Capital One's Fairbank to work without pay:

02/4/2009 | Forbes

Richard Fairbank, chairman and chief executive at Capital One Financial, will forgo his pay until the government no longer holds preferred stock in the company. The Treasury Department bought $3.55 billion in Capital One preferred stock last year through the capital-purchase program. Mr. Fairbank will also be temporarily prohibited from selling or transferring shares obtained from equity grants.

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