Having successfully lobbied for exemptions from key provisions of the Obama administration's regulatory reform plan, community banks are now pressing the Federal Reserve Board to shield them from new compensation guidelines.

Community bankers argue they did not pay the exorbitant bonuses that have fueled widespread anger at Wall Street and they do not have the resources or the need to extensively review their pay programs. "Quite frankly, I have more than enough to do right now in my efforts to keep up with all of the other changes that have or soon will be imposed on us," Albert Christman, the president and chief executive of the $122 million-asset Delhi Bancshares Inc. in Delhi, La., wrote in a comment letter to the Fed. "I really don't need another issue to deal with, especially one that will not be helpful in any way to anyone."

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