Bill > S1990

This bill, known as the "Curtailing Unreasonable Remuneration at Banks Act" or the "CURB Act", amends the Federal Home Loan Bank Act to give the Director of the Federal Housing Finance Agency (FHFA) explicit authority to set compensation for executive officers of Federal Home Loan Banks. Specifically, the bill allows the FHFA Director to establish executive compensation that is "reasonable and comparable" according to regulations the Director will create, overriding previous limitations on such authority. This change means the FHFA Director can now directly intervene in setting pay for top executives at Federal Home Loan Banks, with the apparent goal of preventing excessive or inappropriate compensation. The bill removes a previous transition rule and modifies the existing language about compensation withholding, effectively expanding the FHFA Director's oversight of executive pay in these federally-related financial institutions.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1990/all-info