Wednesday, October 29, 2008

NY AG CUOMO JOINS WAXMAN IN BANK COMPENSATION REQUEST

ATTORNEY GENERAL CUOMO SEEKS BONUS POOL INFORMATION FROM BANKS RECEIVING FEDERAL FUNDS

In the letter, Cuomo demands detailed information regarding bonus pool allocations from the Boards of Directors of the nine banks. The Boards are also asked to explain what mechanisms they have put in place to protect taxpayer funds.


A LETTER THAT WAS SENT TODAY TO THE FOLLOWING BANKS:

Bank of America
Bank of New York Mellon
Citigroup
Goldman Sachs
J.P. Morgan Chase
Merrill Lynch
Morgan Stanley
State Street
Wells Fargo

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