The Office of the Special Master for TARP Executive Compensation issued a Determination Memorandum to Bank of America Corp., according to a public filing. The memo called for a limitation on the compensation of Barbara J. Desoer, president of Bank of America Mortgage, Home Equity and Insurance Services. According to the filing, the compensation and benefits committee of the board of directors recommended that Desoer’s cash base salary be limited to $500,000 — which the full board approved.

More: continued here

Related Content

Subscribe to the post comments feeds or Leave a trackback