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Banker Pay Rule Aiming for Release This Year, FDIC Chairman Says [1]

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Date: 2023-06 

US banking regulators plan to release later this year long-delayed rules limiting bankers’ pay amid scrutiny of compensation for executives at banks that failed recently, FDIC Chairman Martin Gruenberg said.

Regulators and congressional Democrats have been critical of compensation packages for executives at Silicon Valley Bank, Signature Bank, and First Republic Bank, all of which failed between March and May. Those pay packages have added to a clamor from progressives that regulators finish rules mandated by the Dodd-Frank Act aimed at better aligning banker compensation with the safety and soundness of their institutions.

Gruenberg said that staff from the six ...

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[1] Url: https://news.bloomberglaw.com/banking-law/fdic-chairman-hopeful-banker-pay-proposal-to-come-this-year

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