Bank of America Corp. plans to trim the cash component of investment bankers' bonuses to about 15% as politicians seek to rein in the payouts, four people familiar with the matter said this week.

Senior bankers will get 5% to 15% of their bonus in cash, compared with about 50% at Bank of America last year, said the people, who declined to be identified because the talks are private. Junior bankers may get 25% of their bonus in cash, two of the people said. The rest will be paid in shares and cash over time depending on the stock's performance, the people said.

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