US banks setting sky-high ceilings for director pay
The caps primarily serve to fend off potential shareholder lawsuits rather than control the pace of pay increases
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OVER the past two years, a growing number of US banks have capped their directors' earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases.
Most of the caps are typically two to three times what directors now get paid, according to data and filings reviewed by Reuters.
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