Top executives at large TARP-dependent banks face a new $500,000 salary cap, but they may also face a crimp in their bank-funded lifestyles. The Obama Administration, notes the New York Times, has also asked for review of "excessive or luxury items" that execs receive. So we may see companies drastically scale back on paying for country clubs, private jet travel, car services and the like.

The financial services industry of course, offered some of the nicest perks anywhere. The PR fallout would be tremendous. I'd be surprised if banks haven't cut back already. I'm sure they've scaled services and perks for the rank and file. This is not just a big bank issue. Bank of the Ozarks, for example, paid $43,400 in 2007 for a personal assistant to coordinate business and charitable events from the home of its CEO. 

For more:
- here's the New York Times article

Related Articles:
What to make of the private jet mess
The perks of being a CEO