Fed Considers Sweeping Rules on Bank Pay

Fed Considers Sweeping Rules on Bank Pay [Yeah, right!] - 19 Sep 2009

The Federal Reserve and the Treasury are preparing broad new rules that would force banks to rein in practices that made multimillionaires out of many financial executives during the housing bubble, officials said. The rules depart from the hands-off approach that dominated bank regulation for the last three decades, but are not as strict as proposals from some European leaders and suggestions from some members of Congress angered by the financial troubles of the last year... And because the rules would be applied through the confidential bank examination process, it would be hard for consumers and investors to judge how strictly the 'rules' were being applied.  [more]