Spain Caps Board-Member Pay at Banks Seized by State at $66,000
Spain’s government passed a decree to cap board members’ pay at banks seized by the state at 50,000 euros ($66,000) and said chief executives of lenders receiving any state aid can’t earn more than 600,000 euros. Board members at seized banks will also be barred from bonuses, and the chief executives of those lenders will have their pay capped at 300,000 euros, Economy Minister Luis de Guindos said today after the Cabinet meeting in Madrid. Continue reading Spain Caps Board-Member Pay at Banks Seized by State at $66,000