Geithner to Be Confronted by EU’s Barnier on Lack of Bonus Rules

Michel Barnier, the European Union’s financial services commissioner, will confront U.S. Treasury Secretary Timothy F. Geithner over the lack of American rules to restrict bonuses for financial-services workers.

The absence of binding laws regulating bankers’ pay in the U.S. means lenders can avoid curbs envisaged by the Group of 20 Nations in Pittsburgh in 2009, Barnier will tell Geithner when they meet in Washington tomorrow.