Corporate and Financial Institution Compensation Fairness Act of 2009

[AI summary unavailable — showing source text] Corporate and Financial Institution Compensation Fairness Act of 2009 - Amends the Securities Exchange Act of 1934 to require that any proxy or consent or authorization for an annual shareholders meeting provide for a separate shareholder vote to approve executive compensation as disclosed pursuant to rules of the Securities and Exchange Commission (SEC). States that the shareholder vote: (1) shall not be binding on the corporation or the board of directors; (2) shall not be construed as overruling a board decision, nor as creating or implying any additional fiduciary duty by such board; nor (3) shall such vote be construed to restrict or limit the ability of shareholders to make proposals for inclusion in such proxy materials related to executive compensation. Sets forth procedures for disclosure and shareholder approval of golden parachute compensation. Directs the SEC to prescribe standards relating to compensation committees. Requires each member of the compensation committee of the issuer's board of directors to be a member of the issuer's board of directors, and to be otherwise independent. Requires a compensation consultant, legal counsel, or other adviser to the compensatio…