HR 4200
FAIR Fund Act of 2023
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The FAIR Fund Act of 2023 aims to hold financial executives accountable for misconduct by requiring large financial institutions to set aside a portion of their senior employees’ compensation in a dedicated fund. This fund would first be used to pay any civil or criminal fines levied against the institution, and if funds remain, it would be used to ensure depositors are made whole in the event of a bank failure. The bill establishes specific rules for determining the amount deferred and how the fund is managed, with a focus on preventing excessive executive pay during times of financial instability.
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