WASHINGTON, March 11 -- Sen. Catherine Cortez Masto issued the following press release:
Today, U.S. Senators Catherine Cortez Masto (D-Nev.), Elizabeth Warren (D-Mass.), Josh Hawley (R-Mo.), Ruben Gallego (D-Ariz.), Katie Britt (R-Ala.), and eight additional Senators are reintroducing The Failed Bank Executives Clawback Act of 2026, whichwould help ensure that big bank executives are not allowed to collect massive paychecks and bonuses, disregard prudent risk management, and walk away scot-free if the bank goes under.
The bill would require the Federal Deposit Insurance Corporation (FDIC) to hold executives of large, failed banks - like Silicon Valley Bank, which failed three years ago today - financially responsible for some of the costs...