HR 4207 United States House · 118th Congress

Stopping Bonuses for Unsafe and Unsound Banking Act

This bill freezes discretionary bonuses for senior executives at large banks ($50 billion+ in assets) when federal regulators issue a "matter requiring immediate attention" about unsafe practices. It prohibits bonus payments until the regulatory issue is resolved to the agency's satisfaction. Banks may temporarily resume bonuses during a defined period if they submit and get approval for a remediation plan to fix the problem, covering the plan's implementation timeline. The rule applies to major bank holding companies, their subsidiaries, and large standalone banks meeting the asset threshold.
Bill status in committee 1 of 4 stages cleared
Introduction
Jun 2023
Committee Review
Floor Vote
President
Introduced Jun 20, 2023 Last action Jun 20, 2023
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Jun 20, 2023
Committee
Referred to the House Committee on Financial Services.
lower
Jun 20, 2023
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Brittany Pettersen
Brittany Pettersen
DDemocratic
CO
7