Senate Passes Additional Compensation Restrictions for TARP Participants

Makow, Lawrence S.; O'Brien, Jeannemarie; Goldstein, Jeremy L.; Krasnovsky, Michael
January 2009
Venulex Legal Summaries;2009 Q1, Special section p1
The article focuses on the provisions of the economic stimulus bill which restricts the compensation that may be paid by Troubled Asset Relief Program (TARP) participants approved by the U.S. Senate on February 10, 2009. Entities that has received or will receive financial assistance under the TARP will be covered by the retroactive Senate bill. The required cap on the annual compensation of employees will run for the duration of the TARP assistance or obligation. The limits on Capital Purchase Program (CPP) were also modified.


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