3.0.0 2190 2025-05-27T14:16:21Z 2025-05-27T14:16:21Z Senate S S 2023-06-22 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings By (full committee) 2024-05-16T14:00:00Z Hearings By (full committee) 2024-03-07T15:00:00Z Hearings By (full committee) 2023-12-06T18:59:07Z Reported Original Measure 2023-06-22T20:09:17Z 2024-05-16 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2024-03-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-12-06 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-06-22 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 115. Calendars 2023-06-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Brown. Without written report. Committee 2023-06-22 Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Brown. Without written report. Committee 14000 9 Library of Congress ssbk00 Banking, Housing, and Urban Affairs Committee 2023-06-22 Introduced in Senate IntroReferral 10000 9 Library of Congress B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH N 2024-05-30T21:28:00Z https://www.cbo.gov/publication/60357 As reported by the Senate Committee on Banking, Housing, and Urban Affairs on June 22, 2023 Finance and Financial Sector Banking and financial institutions regulation 2024-05-13T13:09:20Z Civil actions and liability 2024-05-13T13:09:25Z Congressional oversight 2024-05-13T13:09:46Z Federal Deposit Insurance Corporation (FDIC) 2024-05-13T13:09:53Z Federal Reserve System 2024-05-13T13:09:42Z Financial crises and stabilization 2024-05-13T13:09:36Z Government information and archives 2024-05-13T13:09:30Z Finance and Financial Sector 2023-06-27T15:00:35Z

00 2023-06-22 Introduced in Senate 2023-07-11T18:31:45Z <p><b>Recovering Executive Compensation Obtained from Unaccountable Practices Act of 2023 or the RECOUP Act of 2023 </b></p> <p>This bill establishes additional authorities for federal banking agencies and sets forth requirements for insured depository institutions with assets over a specified amount to address their safety and soundness. </p> <p>In the event of institutional failure, the bill establishes the authority to recover from a senior executive bonus compensation and profits from the sale of securities received during the 24-month period preceding the failure. Federal banking authorities also have the authority at an institution of any size to remove from office a senior executive in cases of gross negligence, breach of fiduciary duty, or failure to carry out specified responsibilities.</p> <p>The bill also requires depository institutions and depository institution holding companies to adopt governance and accountability standards that promote safety and soundness, responsiveness to supervisory matters, and responsible management. </p> <p>In addition, the bill increases the cap on civil penalties for associated violations. It also expands certain violations to cover senior executives who <i>recklessly</i> (instead of <i>knowingly</i>) violate the law. </p> <p>Finally, the bill requires various reports. Federal banking agencies must publish a report after the failure of an institution. The Board of Governors of the Federal Reserve System must report semiannually on the supervisory and regulatory policies and actions of the Board. After an insured depository institution enters receivership, the inspector general of the appropriate federal regulator must report on the regulator's supervisory performance with respect to that institution.</p>

25 2023-06-22 Reported to Senate 2023-12-11T13:34:56Z <p><b>Recovering Executive Compensation Obtained from Unaccountable Practices Act of 2023 or the RECOUP Act of 2023 </b></p> <p>This bill establishes additional authorities for federal banking agencies and sets forth requirements for insured depository institutions with assets over a specified amount to address their safety and soundness. </p> <p>In the event of institutional failure, the bill establishes the authority to recover from a senior executive bonus compensation and profits from the sale of securities received during the 24-month period preceding the failure. Federal banking authorities also have the authority at an institution of any size to remove from office a senior executive in cases of gross negligence, breach of fiduciary duty, or failure to carry out specified responsibilities.</p> <p>The bill also requires depository institutions and depository institution holding companies to adopt governance and accountability standards that promote safety and soundness, responsiveness to supervisory matters, and responsible management. </p> <p>In addition, the bill increases the cap on civil penalties for associated violations. It also expands certain violations to cover senior executives who <i>recklessly</i> (instead of <i>knowingly</i>) violate the law. </p> <p>Finally, the bill requires various reports. Federal banking agencies must publish a report after the failure of an institution. The Board of Governors of the Federal Reserve System must report semiannually on the supervisory and regulatory policies and actions of the Board. After an insured depository institution enters receivership, the inspector general of the appropriate federal regulator must report on the regulator's supervisory performance with respect to that institution.</p>

Display Title 45 2024-07-24T15:21:49Z Short Title(s) as Reported to Senate 103 2024-05-24T13:39:13Z S Senate Reported to Senate RS Short Title(s) as Reported to Senate 103 2024-05-24T13:39:13Z S Senate Reported to Senate RS Official Title as Introduced 6 2024-03-08T09:08:23Z Reported to Senate 2023-06-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s2190rs/xml/BILLS-118s2190rs.xml 2024-05-16 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.