The Senate Banking Committee will consider a proposal from its leaders, Sens. Sherrod Brown (D-Ohio) and Tim Scott (R-S.C.), that would allow regulators to claw back bank executives’ compensation from the two years before a failure and impose stiff fines.
on Congress to empower the Federal Deposit Insurance Corp. to punish bank executives that failed to manage risks at their institutions.seizing windfalls from stock sales gained traction after it emerged that Silicon Valley Bank CEO Greg Becker sold $3.6 million in his company’s stock just before its failure.
Among outside groups, the United Steelworkers support the Brown-Scott bill specifically, while Americans for Financial Reform supports a general need for action on bankers’ pay.
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