Report: Regions among banks that kept jet perks - WSFA.com Montgomery Alabama news.

Report: Regions among banks that kept jet perks

NEW YORK (AP) - A Wall Street Journal report says a number of executives of banks that received federal bailout money have continued to use corporate jets for personal use.

They include Regions Financial Corp., based in Birmingham, Ala.

The newspaper reported today that flight records show executives at Regions, Bank of America Corp., Morgan Stanley and Citigroup Inc. had used corporate jets for personal use throughout the financial crisis.

The Journal reviewed Federal Aviation Administration flight records of 14 federally aided banks that register planes in their own names.

Calls to Regions were not immediately returned.

A Bank of America spokesman said it is implementing a new policy barring personal use of corporate aircraft, while a Citigroup official said it restricts personal use of company-owned planes to a limited number of executives who are encouraged to fly commercial.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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