Failed Bank Executives Accountability and Consequences Act

Summary

The bill gives federal banking regulators the power to claw back pay and impose daily civil fines on current or former executives and directors whose negligence led to a bank’s collapse. It also lets regulators bar those individuals from working with any insured depository institution in the future. The measure targets the leadership of banks that have failed, such as Silicon Valley Bank, Signature Bank, and First Republic Bank.

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