iOS app Android app

South Financial Group

Bailout Bank Execs Get Big Payouts

ProPublica | Posted 05.25.2011 | Business

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...

Bank Got Bailout, CEO Got Golden Parachute

ProPublica | Posted 05.25.2011 | Business
ProPublica

The South Financial Group announced this week that it had been approved to receive $347 million from the U.S. government. But the bank's founder and longtime CEO won't be sticking around.