updated 10/15/2009 6:53:15 PM ET 2009-10-15T22:53:15

Bank of America Corp.'s outgoing CEO, Ken Lewis, will get no salary or bonus for 2009 under an agreement with the government pay czar, who is scrutinizing compensation at bailed-out banks.

Kenneth Feinberg, the U.S. Treasury Department's special master for compensation, suggested that Lewis should get no pay for the year and Lewis agreed, Bank of America spokesman Robert Stickler said.

In fact, Lewis will pay back about $1 million he has received so far of a $1.5 million salary.

Wall Street has been eagerly awaiting Feinberg's decisions about pay at seven firms that got the most taxpayer money.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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