Bill > S1790

This bill, the Failed Bank Executives Clawback Act, amends the Federal Deposit Insurance Act to grant the Federal Deposit Insurance Corporation (FDIC) and other federal regulators the authority to claw back certain compensation, such as salaries, bonuses, and equity-based compensation, paid to executives of insured depository institutions with over $10 billion in assets if the institution caused more than a minimal financial loss or had a significant adverse effect. The clawback would apply to any director, officer, controlling stockholder, or other person who participated in the affairs of the institution during the three years preceding its insolvency, resolution, or receivership by the FDIC. The recovered funds would be deposited into the Deposit Insurance Fund. Additionally, the bill clarifies that the FDIC's orderly liquidation authority applies regardless of the process by which the FDIC is appointed as receiver.

Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/senate-bill/1790/all-info