Bank Executive Pay Could Be Seized for Failures Under Senate Bill Proposal

Bank Executive Pay Could Be Seized for Failures Under Senate Bill Proposal
Sen. Sherrod Brown (D-Ohio) delivers remarks on Capitol Hill in Washington, on Sept. 20, 2022. Kevin Dietsch/Getty Images
Bryan Jung
Updated:
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The Senate Banking Committee will consider a bipartisan bill that would allow government regulators to seize compensation from executives deemed responsible for a bank failure.

The committee’s chairman, Sen. Sherrod Brown (D-Ohio), and Sen Tim Scott (R-S.C.), the panel’s ranking Republican, came to a deal on June 16 after a wave of regional bank failures this year shook the financial services industry.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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