SunTrust’s board approved the changes to its compensation structure at a Dec. 30 meeting. The changes were made to meet guidelines for banks that received money from TARP.
SunTrust, Georgia’s largest bank, received $4.85 billion in TARP funds. It is one of 26 Georgia banks to receive TARP money.
The federal government has invested $6.2 billion in Georgia’s banks through TARP, a program that has been criticized by some as a bailout of an industry that helped create the financial crisis.