Failed Bank Executives Clawback Act

Summary

Failed Bank Executives Clawback Act This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation from specific responsible parties in case of a large insured depository institution's insolvency, resolution, or receivership. This clawback requirement applies to an entity (including a director, shareholder, or other person who participates in the conduct of the institution's affairs) that caused more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution. The compensation subject to the clawback requirement includes salary, bonuses, awards, and any profits realized from the buying or selling of securities during the preceding three years. The bill also expands the authority of the FDIC to claw back compensation of parties responsible for financial losses incurred by a financial company regardless of the process by which it is appointed receiver.

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Timeline

1. 1 June 2023

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 1 June 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 June 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 June 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 June 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 1 June 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

• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Hawley, Josh [R-MO] · R · Sponsor
• Sen. Cortez Masto, Catherine [D-NV] · D · Sponsor
• Sen. Braun, Mike [R-IN] · R · Sponsor
• Sen. Vance, J. D. [R-OH] · R · Sponsor
• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Sen. Smith, Tina [D-MN] · D · Sponsor
• Sen. Britt, Katie Boyd [R-AL] · R · Sponsor
• Sen. Cramer, Kevin [R-ND] · R · Sponsor
• Sen. Warnock, Raphael G. [D-GA] · D · Sponsor
• Sen. Fetterman, John [D-PA] · D · Sponsor
• · ssbk00 · Standing

Related records

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