US Freezes Pay for CEOs at Ally Financial, $GM, $AIG

(Reuters) – The U.S. Treasury Department said on Friday that 2012 compensation for the chief executives of the final three firms that got exceptional bailout assistance during the financial crisis was being frozen at 2011 levels.

The ruling from the special master for executive compensation under the Troubled Asset Relief Program, or TARP, applies to the leaders of AIG, General Motors and Ally Financial, which was formerly called GMAC.

Treasury also said total direct compensation for 69 other senior executives at the three firms was being cut by 10 percent from 2011 levels.

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