Regulators said to revive bid to rein in Wall Street bonus payouts

seekingalpha04-20

U.S. banking regulators are gearing up to reintroduce a proposal mandating large banks to defer executive compensation and reclaim a greater portion of bonuses in the event on big losses, according to...

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Such restrictions are being developed by officials in six agencies, including the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, the Wall Street Journal reported, citing people familiar with the matter. The measure, which is expected to be proposed in the coming days, but there is still no guarantee the agencies will proceed. Jerome Powell, who leads the Federal Reserve, which is not included in the new proposal, has said he is in no hurry to consider the restrictions. The pay rules are required by the 2010 Dodd-Frank law, which required new regulations to restrict payouts and better synchronize them with firms' long-term financial stability, but have not yet been put in place. The rules were last proposed in 2016, the article said, but they faced pushback from lenders. Banks considered too big to fail include Citigroup (NYSE:C), Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS).  More on Bank of America, Citigroup, etc.  Morgan Stanley Preferred A: Too Much Rate Cut Risk (Rating Downgrade) Citi Post Q1: I Like The Cost Cuts Morgan Stanley: Outstanding Earnings And Positioned To Win From Improving Outlook Bank of America upgraded to Outperform at Wolfe as NII inflection nears BofA’s US 1 List - New additions include CSCO, GS and SPGI","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428693655"}