Failed Bank Executives Clawback Act clarifies authority to recover compensation from executives of failed banks.
The Failed Bank Executives Clawback Act amends the Federal Deposit Insurance Act to clarify that the Federal Deposit Insurance Corporation and appropriate Federal regulators have the authority to claw back certain compensation paid to executives of insured depository institutions. This includes salary, bonuses, equity-based compensation, and other performance-based awards. The clawback applies to executives of institutions with total assets over $10 billion that caused more than a minimal financial loss or significant adverse effect.
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