[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1714 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1714

    To require that the Board Compensation Committees required for 
 financial institutions receiving assistance under the Troubled Assets 
      Relief Program include the representation of the financial 
                  institution's lowest paid employees.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 25, 2009

  Mr. Brady of Pennsylvania introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To require that the Board Compensation Committees required for 
 financial institutions receiving assistance under the Troubled Assets 
      Relief Program include the representation of the financial 
                  institution's lowest paid employees.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. BOARD OF DIRECTORS REQUIREMENT.

    Section 111(c) of the Emergency Economic Stabilization Act of 2008 
(12 U.S.C. 5221(b)(3)) is amended by redesignating paragraphs (2) and 
(3) as paragraphs (3) and (4), respectively, and inserting after 
paragraph (1) the following:
            ``(2) Representation.--At least 1 member of the Board 
        Compensation Committee shall be an employee of the TARP 
        recipient whose compensation as an employee is within the 
        lowest 20 percent of compensation of all employees and 
        executives of the TARP recipient.''.
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