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NC bank commission wants funds for bonuses

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RALEIGH — The North Carolina Bank Commission paid nearly $500,000 in bonuses to its employees last year and is asking legislators to provide money for more this year.

Employees of the commission are exempt from state salary rules. Deputy Commissioner Mark Pearce says the commission uses the bonuses to attract employees to work in bank regulation. Private firms and federal regulators pay more and Pearce said the bonuses are important.

But a legislator who leads the subcommittee that oversees the commission says it’s a bad year to be handing out state employee bonuses when most are getting pay cuts.

The bank commission regulates state-chartered banks, mortgage brokers and check-cashing businesses.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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The North Carolina Bank Commission paid nearly $500,000 in bonuses to its employees last year and is asking legislators to provide money for more this year.

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