U.S. pay czar says must decide on clawback soon

WASHINGTON Jan 21 (Reuters) - The Obama administration's pay czar said on Thursday that he has about 45 days to decide whether he will exercise his authority to claw back compensation at any firm that has received government bailout funds.

Kenneth Feinberg, who is in charge of determining pay practices at the top bailout recipients, reiterated his hesitancy to use that authority, which could extend to firms that have repaid taxpayer money.

"I have said publicly I am reluctant to exercise that authority, except in the most egregious cases, whatever that means," Feinberg said at an Ethics Resource Center event in Washington.

(Reporting by Karey Wutkowski; Editing by Phil Berlowitz)