PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 1, 2023
Failed Bank Executives Clawback Act
This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation from specific responsible parties in case of a large insured depository institution's insolvency, resolution, or receivership. This clawback requirement applies to an entity (including a director, shareholder, or other person who participates in the conduct of the institution's affairs) that caused more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution. The compensation subject to the clawback requirement includes salary, bonuses, awards, and any profits realized from the buying or selling of securities during the preceding three years.
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 it is appointed receiver.
People & committees
Sen. Warren, Elizabeth [D-MA] · D–MA
Legislative record
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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, 2025. Consult Congress.gov for the current record.
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