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Stimulus Package Extends and Enhances TARP Restrictions on Executive Compensation

On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 that was passed by Congress on February 13, 2009. The Act is the latest piece of legislation aimed at providing financial assistance to distressed financial institutions under the Emergency Economic Stabilization Act of 2008, which established the Troubled Asset Relief Program.