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House votes to cap Wall Street bonuses nationwide
The House approved a 237 to 185 bill aiming to bar pay and bonuses that incentivize risky behavior by banks and financial firms with over 1 billion in assets. The measure seeks a shareholder nonbinding vote on compensation and tighter rules on compensation committees, while White House and Senate positions remain uncertain.
MENTIONED IN THIS ARTICLE
Wall Street
Washington
House
Melvin Watt
D-N.c
Fannie May
Freddie Mac
White House
Senate
Senate Banking Committee
Obama
House Democrats
Barney Frank
House Financial Services Committee
Frank
D-Mass
Congress
American International Group Inc
Financial Products
New York
Andrew Cuomo
Bank of America Corp
Merrill Lynch& Co
Jpmorgan Chase & Co
Goldman Sachs Group Inc
Citigroup
Cuomo
Michael Castle
R-Del