Consumer Financial Protection Bureau Director Rohit Chopra said Tuesday that financial regulators already have the legal authority to implement new rules on executive pay in the banking industry, which he believes could help prevent failures like that of Silicon Valley Bank seen last month.
“We can’t have a system where executives take huge risks that blow up years down the road, but can pocket big sums of money and stock options and they can fly the coop before the damage wrecks the bank,” Chopra said in an interview with…
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