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S 1790 118th Congress Senate Finance and Financial Sector

Failed Bank Executives Clawback Act

Introduced: June 1, 2023 Introduced by: Warren, Elizabeth Democratic · Massachusetts 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 1, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 1, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Failed Bank Executives Clawback Act

This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation from specific responsible parties in case of a large insured depository institution's insolvency, resolution, or receivership. This clawback requirement applies to an entity (including a director, shareholder, or other person who participates in the conduct of the institution's affairs) that caused more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution. The compensation subject to the clawback requirement includes salary, bonuses, awards, and any profits realized from the buying or selling of securities during the preceding three years.

The bill also expands the authority of the FDIC to claw back compensation of parties responsible for financial losses incurred by a financial company regardless of the process by which it is appointed receiver.

What's happening now June 1, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 2
  • HR 2972 Related bill Failed Bank Executives Clawback Act
  • S 1045 Related bill Failed Bank Executives Clawback Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 6 Republican 3
R
Britt, Katie Boyd
Alabama · Jun 1, 2023
 D
Cortez Masto, Catherine
Nevada · Jun 1, 2023
 R
Cramer, Kevin
North Dakota · Jun 1, 2023
 D
Fetterman, John
Pennsylvania · Jun 1, 2023
 R
Hawley, Josh
Missouri · Jun 1, 2023
 D
Smith, Tina
Minnesota · Jun 1, 2023
 D
Van Hollen, Chris
Maryland · Jun 1, 2023
 D
Warner, Mark R.
Virginia · Jun 1, 2023
 D
Warnock, Raphael G.
Georgia · Jun 1, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1790: Failed Bank Executives Clawback Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-1790/
MLA
"S. 1790: Failed Bank Executives Clawback Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1790/.
Bluebook (legal)
S. 1790, 118th Cong. (2026), https://openamerica.io/bill/118-S-1790/.
Markdown link
[S. 1790: Failed Bank Executives Clawback Act](https://openamerica.io/bill/118-S-1790/)
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