WASHINGTON, March 11 -- Sen. Ruben Gallego issued the following press release:
Today, Senators Ruben Gallego (D-AZ), Elizabeth Warren (D-MA), Josh Hawley (R-MO), Catherine Cortez Masto (D-NV), Katie Britt (R-AL), and nine additional Senators are reintroducing The Failed Bank Executives Clawback Act of 2026, which would 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 blows up.
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 those failures impose on th...