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Citi, Wells Fargo Broaden Executive Pay Clawbacks Due to Pressure from NYC
MarketWatch
Mar. 13, 2013
"Three more top banks, including Citigroup Inc., will expand the reach of clawbacks for executive pay when things go wrong, increasing to six the number of leading financial companies that have bowed to pressure from New York City's Comptroller.... The agreements comes after four months of negotiations with the comptroller, overseer of $127.5 billion of pension funds, which has made clawbacks a priority for the second year in a row."
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