November 3, 2009

Banks Face Feb. 1 Deadline on Compensation (VIDEO)

The nation's biggest banks are facing a Feb. 1st deadline, on letting the Federal Reserves in on their plans for employee compensation so that the Feds can assure they are in line with government policies aimed at curbing excessive risk.

The Federal reserve is trying to change the infrastructure of the financial industry, and needs cooperation from the major banks to bring stability to our economy again, making sure their financial advice and investment strategies do not creat excessive risk for banks and their customers. but some say the federal reserve is being excessive in their regulations of major banks, and bankers will not be able to function under these expectations...

Banks Face Feb. 1 Deadline on Compensation

Banks face a February deadline for submitting employee compensation plans to the Federal Reserve, sources say...Under the Fed proposal, banks including Goldman Sachs, JPMorgan Chase, Citigroup Inc., Bank of America Corp. and Wells Fargo & Co. would develop plans to make sure compensation for executives, traders, loan officers and others doesn't spur undue risk taking....see more Fed Reserve analysis in the video here.

Banks Face Feb. 1 Deadline on Compensation

Posted at November 3, 2009 3:52 PM

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