House panel approves bill curbing incentive pay
A House panel on Tuesday voted on a legislation banning corporate pay practices and will impose restrictions on the pay of top executives and give shareholders a vote on executive compensation that encourages financial companies to take inappropriate risks. The bill, which is opposed by Republicans, was approved in a 40-28 party-line vote.
BofA has yet to decide on Branch closings
Bank of America on Tuesday responded to conflicting reports of the number of banking centers the bank is expected to cut. The bank said in a statement that it continually evaluates its banking franchise but a decision about its ultimate size has not been made.
US home prices post a rise for the first time in three years
Home prices have seen their first monthly increase in nearly three years, according to the S&P/Case-Shiller Home Price Indices report published Tuesday. The S&P/Case-Shiller home-price index rose 0.5 percent from April, the first monthly gain since July 2006 and biggest since May of the same year, the group said today in New York.