Stopping Bonuses for Unsafe and Unsound Banking Act

This bill would bar large banks from paying discretionary bonuses to senior executive officers after a federal banking regulator issues them a "matter requiring immediate attention" or similar supervisory notice. The bonus freeze would last until the regulator is satisfied the matter is resolved. The freeze would not apply during the period before the deadline to submit a remediation plan. It also would not apply while the bank carries out a remediation plan that the regulator accepts by that deadline. The bill covers bank holding companies and stand-alone banks with more than $50 billion in consolidated assets, plus banks owned by those holding companies.

Full text and official record on Congress.gov

Sponsors

• Brittany Pettersen Democrat sponsor
• 0 cosponsors