Stay updated with breaking news from Gregory Becker. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
President Joe Biden is calling on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry
President Joe Biden is calling on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. Biden wants the Federal Deposit Insurance Corporation to be able to force the return of compensation paid to executives at a broader range of banks should they fail, and to lower the threshold for the regulator to impose fines and bar executives from working at another bank. He called on Congress to grant the FDIC those powers after the failures of Silicon Valley Bank and ...
Biden wants the FDIC to be able to recoup compensation paid to executives at more banks should they fail and lower the threshold for the regulator to impose fines and bar executives from working at another bank.
Some experts raise concerns that pushes for deregulation – enacted under President Donald Trump – resulted in laws and political conditions ripe for neglect.
President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry.