ABA - American Bankers Association
05/06/2024 | Press release | Distributed by Public on 05/06/2024 14:01
ABA Statement on Regulators’ Incentive Compensation Proposal
"Today's unorthodox decision by the FDIC and other regulators to issue a notice of proposed rulemaking on incentive compensation without all the relevant agencies participating is a disappointing political exercise. The Dodd-Frank Act required that this regulation be a six-agency effort, but as key officials have made clear in recent public statements, significant disagreements remain. While we continue to review the 200-page proposal, we are concerned that the agencies seem to be ignoring the numerous and significant concerns raised by the industry when a nearly identical proposal was introduced in 2016."
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About the American Bankers Association
The American Bankers Association is the voice of the nation's $23.7 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.
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