The Advisors' Blog

– Broc Romanek, CompensationStandards.com

Hat tip to Prof. Barbara Black for noting that: Wall St. Journal reports that Wilmington Trust Corp., which received more than $330 million in TARP funds, recently rescinded more than $1.8 million in compensation from CEO Donald Foley. This may be the first time an executive had to give back compensation under the TARP rules.

And you’ll also want to see Paul Hodgson’s blog on this topic – entitled “Whaddya mean you can’t pay ‘golden hellos’ under TARP?” – in which he references this Bloomberg article that broke this story (and here is a follow-up blog from Paul).