WASHINGTON Federal banking regulators are trying to resuscitate a languishing regulation first proposed three years ago that attempts to rein in excessive executive compensation at banks.
Federal Reserve Board Gov. Dan Tarullo on Monday became the second top regulator this month to tout the plan, saying he hopes the agencies can finalize it in the "not-too-distant" future. He followed Comptroller of the Currency Thomas Curry, who similarly raised the proposal in a recent op-ed. Both regulators see it as a way to address flaws in banks' culture, which Tarullo warned needs to be tightened.
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