On February 4, 2009, the U.S. Treasury Department announced new guidelines on executive compensation restrictions for financial institutions that receive TARP funding. (See our Newsletter dated February 6, 2009 for a description of those guidelines.) Nine days later, Congress has adopted rules on the same subject, as part of the much larger American Recovery and Reinvestment Act of 2009 (ARRA).

Please go to: http://www.manatt.com/uploadedFiles/News_and_Events/Newsletters/BankingLaw@manatt/Executive%20Compensation%20Provisions%20of%20ARRA.PDF

to see the Executive Compensation Provisions of the new statute.

For more information, please see full newsletter.