Frank, head of the House Financial Services Committee, said new taxes or fees on financial firms and providing shareholders with more leverage are options he's looking at exploring, The Hill reported. He's set a Jan. 22 hearing on the bonus issue.
"The question of compensation for people in the financial industry is a legitimate cause of concern," Frank said, adding he doesn't think additional restrictions would trigger an exodus of talent from the financial sector.
"I don't know where people would go for comparable salaries," he said.
"There may be in some of these financial institutions people capable of playing Major League Baseball. I'm not aware of any."
Notable deaths of 2014 [PHOTOS]
Larry Ellison to step down as CEO of Oracle