Shareholders reject $15M raise for Citigroup's CEO
FORTUNE - It took a 14,ooo,ooo% pay increase to finally put the "say on pay" regulations in the Dodd-Frank bank reform to the test on Wall Street.Shareholders at Citigroup voted against giving CEO Vikram Pandit a $15 million raise for 2011. He had made $1 the year before. It's the first time shareholders have rejected the executive pay packages of a major bank since Dodd-Frank made the votes mandatory a year ago. The vote came at Citigroup's annual shareholder meeting, which is being held on Tuesday in Dallas. The question is what happens next?