President Joe Biden called on Congress to authorize tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing.
March 20, 2023 / By ICBA
President Joe Biden called on Congress to authorize tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing.
Details: In a fact sheet, Biden urged Congress to expand the FDIC’s authority to:
Claw back compensation from executives at failed banks.
Bar executives from holding jobs in the banking industry when their banks enter receivership.
Fine executives of failed banks.
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
