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Executive Compensation —Treasury Tightens Financial Institutions’ Purse Strings
Overview. The U.S. Department of the Treasury (Treasury) has issued an interim final rule (New Compensation Restriction Rules) implementing the executive compensation provisions of the Emergency...
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Now We have Teeth—Additional Restrictions on Executive Compensation Under TARP
On February 4, 2009, the Treasury Department amended its executive compensation restrictions for financial institutions receiving “exceptional assistance” prompted by the current economic crisis and...
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Economic Stimulus Legislation Adds to Executive Compensation Restrictions for...
On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA). While many aspects of this “stimulus” legislation have been debated publicly for weeks,...
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Treasury Releases Executive Compensation Restrictions for TARP Participants
The U.S. Treasury Department has released an Interim Final Rule (the Executive Compensation Rule) establishing governance and compensation standards for institutions participating in the Troubled Asset...
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President Announces Community Bank Program to Increase Credit Flow to Small...
The President announced plans today that, if put into action, would lead to the realization of at least some much-needed and long-sought-after assistance for community banks. A copy of the President’s...
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Loan Officers Eligible for Overtime Pay
On March 24, the Department of Labor (DOL) issued an Administrator’s Interpretation concluding that the typical mortgage loan officer does not qualify under the administrative employee exemption to the...
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Final Guidance on Incentive Compensation Includes Small Banks
On June 21, the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Office of Thrift Supervision (the “Agencies”) issued final Guidance...
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