$hide=home-label

Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Islamophobia_$type=carousel$h=350$show=/search/label/Muslim%20World

Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Iran_$type=three$count=3$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Palestine$type=three$author=hide$comment=hide$rm=hide$date=hide$show=/search/label/Muslim%20World

U.S. attempt to limit Wall Street bonuses fizzles out quietly

SHARE:

WASHINGTON  - The regulatory agenda released by the Trump administration on Thursday contained a signal that the U.S. government has halted its work on restricting Wall Street executives' bonuses and other pay incentives.

The 2010 Dodd-Frank Wall Street reform law called for federal banking and securities regulators to create limits on incentive-based compensation at big financial companies and prevent executives from receiving outsized rewards for overly risky gambles.

Last year those regulators, many appointed by former President Barack Obama, a Democrat, rolled out a 500-page rule over many weeks that would require senior executives to return bonuses earned by making decisions that materially hurt their banks.

But in the biannual White House agenda on regulation, the rule was listed under the heading "long-term action," instead of one denoting regulators were making progress toward a final version. In Washington-speak that meant the rule was dead.

The move followed President Donald Trump's campaign pledges to lighten federal regulations that hurt liquidity and strangled business.

"They’re not even working on it," said Lisa Gilbert, who closely tracks Dodd-Frank implementation for the liberal-leaning public interest group Public Citizen.

She added that the rule was labeled "pending" in previous agendas. By law it was supposed to be completed by 2011.

Agencies working on the proposed rule declined to comment.

Regulators neglected last year's proposal, which addressed many concerns raised about a 2011 draft, even though Obama pushed them to finish it before he left office.

"We kind of knew it was on the back-burner," said Alexander Monterrubio, director of regulatory affairs for the National Association of Federal Credit Unions trade group. "The unified agenda confirmed that thought."

Each agency had a different view on regulating incentive-based compensation, making progress difficult, Monterrubio said.

Congress wanted a way to hold top executives accountable after the 2007-09 financial crisis, when some banks experienced major losses partly due to risky decisions made by their leaders. The call for a rule was renewed when regulators rapped Wells Fargo & Co. for an incentive method that pushed employees to open thousands of phantom accounts in customers' names.

But it was politics that likely proved the rule's downfall.

Agencies give the White House lists of their regulatory priorities, which makes changes based on the president's goals and then publishes what is called the "unified agenda."

Monterrubio said of the rule: "It wasn’t going to happen under President Trump."

COMMENTS

EMAIL NEWSLETTER$desc=Subscribe to receive inspiration, ideas, and news in your inbox

Followers

Name

Ads,5,Afghanistan,34,Animals,31,Bahrain,2,Barcelona,1,Business,653,China,41,Egypt,9,Headlines,11,Health,142,India,64,Indonesia,8,International,75,Iran,42,Iraq,35,Islamophobia,17,Israel,1,Kuwait,1,Lebanon,1,Lifestyle,273,Malaysia,3,Middle East,14,Muslim World,368,Nawaz Sharif,5,Opinion,26,Pakistan,934,Palestine,25,Pics,66,Popular,1,Qatar,82,Saudi Arabia,52,Science,123,Showbiz,256,Sports,993,Sudan,1,Syria,46,Technology,161,Top News,721,Turkey,37,UAE,16,Videos,73,World,3354,Yemen,5,
ltr
item
Muslim Global: U.S. attempt to limit Wall Street bonuses fizzles out quietly
U.S. attempt to limit Wall Street bonuses fizzles out quietly
https://2.bp.blogspot.com/-GwaNI3dSGv4/WXGjdibI_kI/AAAAAAAAa2U/nHygjtdyGzEdu65h--m0mUdmq4zlnt6NACLcBGAs/s640/A%2Bstreet%2Bsign%2Bfor%2BWall%2BStreet%2Bis%2Bseen%2Boutside%2Bthe%2BNew%2BYork%2BStock%2BExchange.jpg
https://2.bp.blogspot.com/-GwaNI3dSGv4/WXGjdibI_kI/AAAAAAAAa2U/nHygjtdyGzEdu65h--m0mUdmq4zlnt6NACLcBGAs/s72-c/A%2Bstreet%2Bsign%2Bfor%2BWall%2BStreet%2Bis%2Bseen%2Boutside%2Bthe%2BNew%2BYork%2BStock%2BExchange.jpg
Muslim Global
http://www.muslimglobal.com/2017/07/us-attempt-to-limit-wall-street-bonuses.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2017/07/us-attempt-to-limit-wall-street-bonuses.html
true
616431133175714168
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy