Pay for Executives of Failed Banks Is a Target in Senators’ Bill
- Sherrod Brown, Tim Scott present plan to Banking Committee
- Ex-chiefs of SVB, other banks faced outrage after collapses
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Federal regulators would get new powers to claw back compensation of executives who led failed banks under a bipartisan plan from two US senators.
The Federal Deposit Insurance Corp. could recoup bonuses that senior executives received in the two years before a bank collapse, according to a summary of the bill.