U.S. OBJECTS TO A BANK'S BONUSES.(Business)

Byline: Sharon Walsh Washington Post

The Justice Department is challenging a bonus plan that would pay top executives of First American Bankshares Inc. up to $10 million following the sale of the bank, people close to the bank said Thursday.

The payment could reduce the money available to protect taxpayers against losses caused by the illegal activities of the Bank of Credit and Commerce International, insiders said.

The bonus plan was approved by First American's directors on a divided vote on June 24 - one day after the federal court appointment of former New York banking superintendent Harry W. Albright Jr. to oversee the sale of the bank, sources …