In Wells Fargo hearing, executive pay ‘clawbacks’ are likely to take center stage

September 19, 2016 8:20 PM

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Anyone paying attention to Tuesday's Senate Banking Committee hearing over Wells Fargo's sales tactics is likely to hear a lot about a single word: "Clawbacks."

It's the practice of doing just what it sounds like: Taking money back from an executive for compensation they've already been paid for things such as misconduct, gross negligence or "material" errors. And though the idea of a clawback provision has been around since at least 2002, it remains a rare...

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