S 1181
Bank Management Accountability Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Bank Management Accountability Act aims to improve financial stability by strengthening the ability of regulators to hold executives and directors accountable for the failure of banks. Specifically, it allows the FDIC to recover compensation paid to senior executives and directors of failed banks, up to two years prior to the bank's receivership, except in cases of fraud. The bill also prohibits liability insurance coverage for this compensation and authorizes the FDIC to ban these individuals from future roles in financial companies for at least two years, expanding the scope of these bans to include systemic risk institutions.
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Primary sponsor
Cosponsors
Jon Tester
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