A bipartisan group of senators introduced legislation yesterday to claw back some or all of the top executives’ compensation from the five years leading up to bank failures, following the high-profile collapse of Silicon Valley Bank and Signature Bank earlier this month, The Hill reported. The bill — proposed by Sens. Elizabeth Warren (D-Mass.), Catherine Cortez Masto (D-Nev.), Josh Hawley (R-Mo.) and Mike Braun (R-Ind.) — would allow the Federal Deposit Insurance Corporation (FDIC) to recoup up to five years’ worth of compensation from executives at any bank that requires a federal takeover. “Americans are sick and tired of fat cat bankers paying themselves handsomely while risking other people’s hard earned money,” Warren, who has been an outspoken voice in the push for stronger banking regulations, said in a statement.
