By Buckeye Reporter Report |
Jun 5, 2023
U.S. Senators JD Vance (R-OH), Elizabeth Warren (D-MA), Katie Britt (R-AL), Kevin Cramer (R-ND), Bob Menendez (D-NJ), Mark Warner (D-VA), Chris Van Hollen (D-MD), Tina Smith (D-MN), Raphael Warnock (D-GA), and John Fetterman (D-PA), all members of the Senate Banking, Housing, and Urban Affairs Committee, joined Senators Mike Braun (R-IN), Josh Hawley (R-MO), and Catherine Cortez Masto (D-NV), to update their original legislation and introduce the Failed Bank Executives Clawback Act – bipartisan legislation that would require federal regulators to claw back up to three years of compensation received by big bank executives, board members, controlling shareholders, and other key decision-makers in the event of a failure or resolution.