Failed Bank Executives Clawback Act

Summary

Failed Bank Executives Clawback Act This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation paid to certain responsible parties when an insured depository institution or financial company is placed into FDIC receivership.  Specifically, all or part of the compensation paid the previous five years to an institution-affiliated party substantially responsible for the condition of the institution must be paid to FDIC to prevent unjust enrichment and to assure that the party bears losses consistent with their responsibility. Compensation includes salary, bonuses, awards, and profits from buying or selling securities. Finally, the bill establishes that an insured depository institution's holding company is liable to the FDIC for payments to insured depositors, the FDIC's receiver costs, and interest when the institution is under FDIC receivership.

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Timeline

1. 27 April 2023

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 27 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 April 2023 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 April 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 April 2023

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 27 April 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Porter, Katie [D-CA-47] · D · Sponsor
• Rep. Spartz, Victoria [R-IN-5] · R · Sponsor
• Sen. Gallego, Ruben [D-AZ] · D · Sponsor
• Rep. Buck, Ken [R-CO-4] · R · Sponsor
• Rep. Perez, Marie Gluesenkamp [D-WA-3] · D · Sponsor
• · hsba00 · Standing

Related records

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