PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking, Housing, and Urban Affairs. Hearings held.
Congressional Research Service
Version 25 · Reported to Senate · Jun 22, 2023
Recovering Executive Compensation Obtained from Unaccountable Practices Act of 2023 or the RECOUP Act of 2023
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.
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.
Showing the opening paragraphs of the official summary.
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.
In addition, the bill increases the cap on civil penalties for associated violations. It also expands certain violations to cover senior executives who recklessly (instead of knowingly) violate the law.
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.
People & committees
Sen. Brown, Sherrod [D-OH] · D–OH
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. 118-496.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 115.
Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Brown. Without written report.
Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Brown. Without written report.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: May 27, 2026. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.2190 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.2190 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.2190 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.2190 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.