Rep. Barney Frank, chairman of the House Financial Services Committee, plans to hold a hearing today to discuss executive compensation on Wall Street and ways to curtail excessive paydays. Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable, said financial institutions had already made changes to rein in their compensation policies. "Clearly this is driven by the politics of a midterm election," Mr. Talbott said. "That's a bad way to set policy."

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