3.0.0 1181 2025-01-14T18:20:21Z 2025-01-14T18:24:07Z Senate S S 2023-04-18 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings By (full committee) 2023-05-04T16:51:35Z Referred To 2023-04-18T18:40:33Z 2023-05-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-04-18 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1212-1213) IntroReferral 2023-04-18 Introduced in Senate IntroReferral 10000 9 Library of Congress R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. N G000386 Sen. Grassley, Chuck [R-IA] Chuck Grassley R IA 2023-04-18 True W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2023-04-25 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2023-05-10 False S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2023-06-01 False T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2023-06-01 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 Wages and earnings 2023-05-26T16:15:21Z Finance and Financial Sector 2023-04-26T14:15:17Z

00 2023-04-18 Introduced in Senate 2023-11-08T17:41:28Z <p class="MsoNormal" style="line-height: normal;"><b>Bank Management Accountability Act</b></p> <p class="MsoNormal" style="line-height: normal;">This bill expands the ability of financial regulators to recover compensation from senior executives or directors at failed banks and financial institutions and to impose bans on their future participation at any financial company.</p> <p class="MsoNormal" style="line-height: normal;">The bill authorizes the Federal Deposit Insurance Corporation (FDIC) to recover compensation paid to certain current or former senior executives or directors of an insured depository institution for which FDIC is a receiver or conservator. </p> <p class="MsoNormal" style="line-height: normal;">If a current or former senior executive or director is substantially responsible for the failed condition of the insured depository institution, FDIC may recover any compensation received during the 2-year period prior to FDIC appointment as receiver or conservator of the insured depository institution, except for cases of fraud, where no time limit shall apply. </p> <p class="MsoNormal" style="line-height: normal;">The bill also (1) prohibits liability insurance policies from covering such compensation, and (2) authorizes FDIC to prohibit any further participation by those individuals in the affairs of any financial company for not less than 2 years.</p> <p class="MsoNormal" style="line-height: normal;">Finally, the bill expands the authority of the Board of Governors of the Federal Reserve System and the FDIC to ban senior executives at systemically important financial institutions in receivership from participating for 2 years in the affairs of any financial company. Specifically, the bill removes the requirement that, to be subject to such a ban, the violation must involve personal dishonesty or demonstrate willful or continuing disregard for the company's safety and soundness.</p>

Display Title 45 2024-07-24T15:22:40Z Short Title(s) as Introduced 101 2024-05-24T13:40:53Z Introduced in Senate IS Official Title as Introduced 6 2023-04-22T02:58:46Z Introduced in Senate IS Introduced in Senate 2023-04-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s1181is/xml/BILLS-118s1181is.xml 2023-05-04 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.