HR 4209
118th Congress
House
Finance and Financial Sector
Incentivizing Safe and Sound Banking Act
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
Plain-English summary
Incentivizing Safe and Sound Banking Act
This bill allows the Federal Deposit Insurance Corporation to, during cease-and-desist proceedings for unsafe or unsound practices in an institution, prohibit the sale of stock in a bank or holding company by an officer or director of the bank or any bank-affiliated party who received stock as compensation. Further, the bill automatically prohibits the sale of such stocks by senior executive officers or affiliated parties at large banks if the bank receives a certain risk management rating or if the bank is under an unresolved supervisory notice issued by a banking regulator.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1