PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking, Housing, and Urban Affairs. Hearings held.
Congressional Research Service
Version 00 · Introduced in Senate · Mar 29, 2023
Failed Bank Executives Clawback Act
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.
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.
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.
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.
People & committees
Sen. Warren, Elizabeth [D-MA] · D–MA
Sen. Warren, Elizabeth [D-MA] · D–MA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-441.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
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Source last updated: May 27, 2026. Consult Congress.gov for the current record.
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