Bank boards are more active in overseeing executive compensation, and a broader range of units within banks have input into compensation, according to a progress report released today by the Basel, Switzerland-based Financial Stability Board.
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A free excerpt from ABA Banking Journal Directors Briefing.
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The largest credit unions with nationwide growth aspirations should be treated like banks, according to an American Banker op-ed published today, with special focus given to community reinvestment requirements and executive compensation.
As part of its broader effort to address misconduct risk at large, globally active banks, the Basel, Switzerland-based Financial Stability Board today requested public comment on draft recommendations for compensation data reporting.
Wells Fargo CEO Tim Sloan appeared before the Senate Banking Committee today to provide an update on the steps the bank has taken over the past year to mitigate damages resulting from unauthorized accounts that were opened by Wells Fargo employees to meet sales goals.
As public companies prepare to begin making Dodd-Frank Act mandated disclosures of the pay ratio between their CEOs and a median employee, the Securities and Exchange Commission is issuing guidance to facilitate compliance.
In a comment letter to six federal financial regulatory agencies today, ABA raised numerous concerns about the agencies’ proposed incentive-based compensation rule.
The Federal Reserve Board today voted to re-propose the executive compensation rule mandated by the Dodd-Frank Act, prohibiting incentive-based compensation arrangements for executives that the regulators believe could encourage excessive risk-taking behavior.