The NCUA is scheduled to discuss and possibly send out for comment at next Thursday's meeting a proposed multiple agency rule to provide additional regulation of executive compensation.
The rule, which was required by the financial overhaul bill passed by Congress last year, mandates the reporting of compensation packages to the financial institutions' regulator and would places limits on certain kinds of incentive-based compensation.
The FDIC on Monday voted to send out the rule for comment. Seven government regulators must issue drafts and send them out for comment. According to the FDIC summary, the rule "would prohibit a covered financial institution from establishing or maintaining any incentive-based compensation arrangements for covered persons that encourage inappropriate risks by the covered financial institution that could lead to a material financial loss."
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