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October 6, 2011

Fed Reports Modest Progress in Bank Compensation Plans

“Amid the uproar over bailouts and bonuses in the fall of 2009, the chief executives of the nation’s largest banks walked through the iron gates of the Federal Reserve Bank of New York and received a stern warning that their pay practices needed to be overhauled.  Two years later, there has been only modest change, according to the findings of a long-awaited Federal Reserve report on bank compensation practices.”

Read the full article at The New York Times

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