Representatives call for implementation of Median Worker Pay Ratio Rule

This story appeared in Bank Digest.

Congressional Progressive Caucus Co-Chairs Reps. Raúl Grijalva (D-Ariz) and Keith Ellison (D-Minn) joined Financial Services Committee Ranking Member Maxine Waters (D-Calif) in calling on the Securities and Exchange Commission to finalize its rule requiring publicly-traded corporations to publicly disclose the ratio of the compensation of their CEO to the compensation of their median worker.

The three lawmakers urged completion of the so-called "Median Worker Pay Ratio Rule" via a letter sent to SEC Chair Mary Jo White. This rule would implement section 953(b) of the Dodd-Frank Act. Their letter was signed by a total of 55 representatives.