BUSINESS

Departing Execs At Smaller TARP Banks Got Golden Parachutes

07/12/2009 05:12 am ET | Updated May 25, 2011

Yesterday, the Treasury Department released new rules [1] on how much banks that received TARP money can pay their executives. Among the rules is one that prohibits golden parachutes -- defined as any payment to a departing exec simply because the exec is leaving. But an examination of public filings shows that a number of executives at banks that received TARP funds have received large payments just for resigning.

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