"Warren and Vance Join Forces to Hold Bank CEOs Accountable"

Senators Elizabeth Warren and J.D. Vance have teamed up to introduce a bill that would require the government to claw back executive compensation at large failed banks in a bid to deter excessive risk-taking. The bill has 11 of the Senate Banking Committee’s 23 members on board, and Warren has asked Chair Sherrod Brown to schedule a vote. The bill would require the FDIC to claw back compensation from executives of large banks that failed or were resolved by the FDIC. The measure would cover banks with $10 billion or more in assets and apply to directors, officers, controlling shareholders, and other high-level individuals involved in decision-making.