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Washington
Inside Washington (12/22/2009)
* WASHINGTON (12/23/09)--The Treasury Department has adjusted pay limits at American International Group Inc. (AIG), prompted by a highly paid AIG employee who won’t leave the company by year-end as originally expected (American Banker Dec. 22). Kenneth Feinberg, Treasury pay czar, said AIG can pay the employee $4.3 million in incentive payments, on top of his $450,000 salary. In other news, Treasury modified a pay rule to allow Citigroup to pay expatriate compensation to five employees instead of four ... * WASHINGTON (12/23/09)--Howard Schmidt, former eBay Inc. and Microsoft Corp. security official, has been tapped to be the White House cyber security chief. Schmidt will set computer security policy and provide budget guidance throughout the federal government (The Wall Street Journal Dec. 22). He also will tap cyberdefense capabilities at the National Security Agency. Schmidt has previously worked for the White House, the Air Force and Federal Bureau of Investigation. He is president of the Information Security Forum, a nonprofit security group ... * WASHINGTON (12/23/09)--The Federal Reserve Board Tuesday announced that the asset-size exemption threshold for depository institutions under Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), will remain $39 million. As a result, institutions with assets of $39 million or less as of Dec. 31 are exempt from collecting data in 2010. Under HMDA, mortgage lenders in metropolitan areas are required to collect, report and disclose data about applications for, and originations and purchases of home purchase loans, home improvement loans and refinancings ...


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