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HR 4208 118th Congress House Finance and Financial Sector

Failed Bank Executives Accountability and Consequences Act

Introduced: June 20, 2023 Introduced by: Waters, Maxine Democratic · California See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 20, 2023
Referred to the House Committee on Financial Services.
Jun 20, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

Failed Bank Executives Accountability and Consequences Act

This bill allows the Federal Deposit Insurance Corporation (FDIC) to recover compensation from an executive officer or director of a failed financial company that is in receivership. Specifically, any current or former executive officer whose negligence caused financial loss to the company may have their compensation for the preceding two years clawed back by the FDIC. No time limit applies if the financial loss involves fraud.

In addition, federal banking agencies are allowed to prohibit a party from participation in the affairs of any bank if that party negligently caused financial loss to a failed bank.

The bill also establishes civil penalties for executive officers or directors who caused financial loss to a failed bank.

What's happening now June 20, 2023

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 9
D
Beatty, Joyce
Ohio · Jun 20, 2023
 D
Cleaver, Emanuel
Missouri · Jun 20, 2023
 D
Garcia, Sylvia R.
Texas · Jun 20, 2023
 D
Green, Al
Texas · Jun 20, 2023
 D
Horsford, Steven
Nevada · Jun 20, 2023
 D
Sherman, Brad
California · Jun 20, 2023
 D
Tlaib, Rashida
Michigan · Jun 20, 2023
 D
Vargas, Juan
California · Jun 20, 2023
 D
Velázquez, Nydia M.
New York · Jun 20, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4208: Failed Bank Executives Accountability and Consequences Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-4208/
MLA
"H.R. 4208: Failed Bank Executives Accountability and Consequences Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-4208/.
Bluebook (legal)
H.R. 4208, 118th Cong. (2026), https://openamerica.io/bill/118-HR-4208/.
Markdown link
[H.R. 4208: Failed Bank Executives Accountability and Consequences Act](https://openamerica.io/bill/118-HR-4208/)
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