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Bipartisan bill introduced to claw back executive pay of failed banks
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Banking, Legislation
Tuesday, June 6, 2023
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Sens. Kevin Cramer (R-N.D.) and Elizabeth Warren (D-Mass.) introduced the Failed Bank Executives Clawback Act, a bill that would require federal regulators to claw back up to three years of compensation given to executives following a bank’s failure.
Reps. Ruben Gallego (D-Ariz.), Katie Porter (D-Calif.), Ken Buck (R-Colo.) and Victoria Spartz (R-Ind.), have jointly introduced companion legislation in the House of Representatives.
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