FAIR Fund Act of 2023
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
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.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours