Lawmakers open to Biden's call to claw back SVB executive pay
Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.
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Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.
WASHINGTON — President Joe Biden’s call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds in the lead up to the Silicon Valley Bank
This week’s hearings on the failures of Silicon Valley Bank and Signature Bank are expected to be the first of many, in what’s set to be a long, drawn-out debate over legislative fixes.
The president and House speaker need each other to govern, but a messaging battle has replaced functional legislating as the two spar over the budget and federal debt limit.
Some experts raise concerns that pushes for deregulation – enacted under President Donald Trump – resulted in laws and political conditions ripe for neglect.