3.0.0 1045 2025-01-14T18:20:21Z 2025-01-14T18:24:07Z Senate S S 2023-03-29 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings By (full committee) 2023-05-17T22:09:06Z Hearings By (full committee) 2023-05-16T14:00:00Z Hearings By (full committee) 2023-05-04T16:51:33Z Referred To 2023-03-29T19:02:53Z 118 2972 HR 2023-04-27 Referred to the House Committee on Financial Services. Related bill CRS 118 1790 S 2023-06-01 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2023-05-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-05-16 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-05-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-03-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2023-03-29 Introduced in Senate IntroReferral 10000 9 Library of Congress W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. N H001089 Sen. Hawley, Josh [R-MO] Josh Hawley R MO 2023-03-29 True C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2023-03-29 True B001310 Sen. Braun, Mike [R-IN] Mike Braun R IN 2023-03-29 True W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2023-05-01 False Finance and Financial Sector Administrative law and regulatory procedures 2023-05-26T16:15:21Z Bank accounts, deposits, capital 2023-05-26T16:15:21Z Banking and financial institutions regulation 2023-05-26T16:15:21Z Civil actions and liability 2023-05-26T16:15:21Z Consumer affairs 2023-05-26T16:15:21Z Corporate finance and management 2023-05-26T16:15:21Z Federal Deposit Insurance Corporation (FDIC) 2023-05-26T16:15:21Z Financial crises and stabilization 2023-05-26T16:15:21Z Securities 2023-05-26T16:15:21Z Wages and earnings 2023-05-26T16:15:21Z Finance and Financial Sector 2023-04-13T18:30:17Z

00 2023-03-29 Introduced in Senate 2023-09-29T20:08:51Z <p class="MsoNormal"><b>Failed Bank Executives Clawback Act</b></p> <p class="MsoNormal">This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation paid to certain responsible parties when an insured depository institution is placed into FDIC receivership.&nbsp; </p> <p class="MsoNormal">Specifically, all or part of the compensation paid the previous five years to an institution-affiliated party responsible for the condition of the institution must be paid to FDIC to prevent unjust enrichment and to assure that the party bears losses consistent with their responsibility. Compensation includes salary, bonuses, awards, and profits from buying or selling securities.</p> <p class="MsoNormal">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 FDIC is appointed receiver.&nbsp; </p> <p class="MsoNormal">Finally, the bill establishes that the creditors and shareholders of an insured depository institution's holding company are responsible for the losses when the institution is resolved by the FDIC.</p>

Display Title 45 2024-07-24T15:23:01Z Short Title(s) as Introduced 101 2024-05-24T13:41:17Z Introduced in Senate IS Official Title as Introduced 6 2023-04-12T02:58:46Z Introduced in Senate IS Introduced in Senate 2023-03-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s1045is/xml/BILLS-118s1045is.xml 2023-05-17 Committee on Banking, Housing, and Urban Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.