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Fed May Play Role in Banking Compensation

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The Federal Reserve may soon be playing a role in compensation policies governing U.S. banking employees, according to a published report Friday. The Fed's move is seen as a way for the government to keep an eye on the nation's financial institutions without dictating compensation. The Obama administration has been hesitant for the government to meddle too much in corporate pay decisions, but many have felt that some type of oversight is necessary for banks — which have been blamed for taking too much risk and its executives being paid too handsomely during the economic downturn.
SOURCE:   Associated Press