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Wall Street bonuses targeted in new US rules

Draft rules unveiled as part of the 2010 Dodd-Frank financial reforms take aim at an incentive system that critics say helped precipitate the 2008 financial crisisSenior executives with large banks would have to wait four years before collecting much of their bonus pay under a proposed regulation in response to the 2008 financial crisis. The proposal was accepted by the National Credit Union Administration Board, one of six federal agencies that have been working on the rule. The others, including the Federal Reserve and the Securities and Exchange Commission, are expected to take up the rules in the coming weeks.

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