AFREF and Public Citizen led a coalition letter urging the six relevant agencies to implement section 956 of the Dodd-Frank Act, which requires them to promulgate a rule banning incentive-based executive pay that incentivizes inappropriate risk-taking. A year after the 2023 banking crisis — and almost fourteen years after the statutory mandate was enacted — we do not have a rule to protect consumers, depositors, and the public from executives’ excessive risk-taking.
The post Letter to the Regulators: Emphasizing the Urgent Need to Implement Key Executive Pay Rule, Dodd-Frank Act Section 956 appeared first on Americans for Financial Reform.