Holding Failed Financial Institutions' Executives Accountable

Last month the leaders of the US Senate Committee on Banking, Housing and Urban Affairs (the "Banking Committee") introduced S. 2190, the Recovering Executive Compensation Obtained from Unaccountable Practices Act of 2023 (the "RECOUP Act"). The legislation was then favorably reported out of committee by a rare bipartisan vote of 21–2. The RECOUP Act now awaits consideration by the Senate. Senators Thom Tillis, R-NC, and Bill Hagerty, R-TN, voted against the measure. Continue reading >