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
Floor votes
How they voted
No floor votes recorded yet.
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
Brittany Pettersen
DDemocratic
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