Why Big Banks Are Putting Caps on Director Salaries

And why the move doesn’t satisfy critics of banker pay.

Over the past two years, a growing number of U.S. banks has capped their directors’ earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases.

Most of the caps are typically 2-3 times what directors now get paid, according to data and filings reviewed by Reuters. Read More