Failed Bank Executives Accountability and Consequences Act amends the Federal Deposit Insurance Act to provide clawback authority for executive.
The Failed Bank Executives Accountability and Consequences Act amends the Federal Deposit Insurance Act to provide Federal financial regulators with clawback authority over executive compensation and additional industry prohibition and civil money penalty authority for executives whose negligence caused financial loss to the applicable financial institution. The Act allows the Federal Deposit Insurance Corporation to recover compensation from any current or former executive officer or director whose negligence caused financial loss to an insured depository institution.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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