Summer Regulatory Summit eBook

CONFIDENTIAL

Congressional Response to March 2023 Bank Closures Considered - • Asset thresholds for enhanced supervision • Emergency lending facilities • “Critical industry” banking reviews • Bank executive pay clawback • Independent oversight of federal regulators What emerged – “Recovering Executive Compensation Obtained from Unaccountable Practices Act” or the RECOUP Act • Bipartisan legislation • Allows regulators to remove and bar executives at mismanaged banks from industry • Claw back compensation awarded in two years prior bank failure • Make easier to impose civil penalties on executives • Exempts banks below $10 billion