Page 32 - Gregory Becker News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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. 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.

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.

Politicians on both sides of the aisle say the regional reserve bank deserves special scrutiny for Silicon Valley bank's failure. But larger-bank supervision tends to center on the Fed Board of Governors.

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.

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.