Senate Unites to Seize Pay from Failed Bank CEOs
TL;DR
A bipartisan bill proposed by Senators Sherrod Brown and Tim Scott would allow regulators to claw back bank executives’ compensation from the two years before a failure and impose stiff fines on them. The bill would authorize the FDIC to recoup proceeds from stock sales as well as bonuses that executives receive in the 24 months leading up to a failure. The bill’s prospects in the Republican-controlled House remain uncertain.
- Seizing pay of failed bank CEOs gathers bipartisan Senate support The Washington Post
- Dueling Bipartisan Proposals to Seize Pay From Failed Bank Executives The American Prospect
- Senate bill on bank exec pay clawbacks faces first test Axios
- Senators aim to claw back pay from failed banks' CEOs, but deal with competing bills MarketWatch
- Failed-bank CEO pay has scrambled the Senate's partisanship American Banker
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