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Bonus Ban for Troubled Banks: Protecting Financial Stability.

New rules aim to enhance financial safety by prohibiting large banks from paying executive bonuses when facing serious issues without a remediation plan. This protects citizens' money and prevents risky bank behaviors that could lead to financial crises.
Key points
Large banks are prohibited from paying discretionary bonuses if they have serious supervisory issues and no remediation plan.
The rules apply to banks with over $50 billion in assets, including holding companies and their subsidiaries.
The goal is to increase executive accountability and safeguard the stability of the banking system.
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Expired
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Additional Information
Print number: 118_HR_4207
Sponsor: Rep. Pettersen, Brittany [D-CO-7]
Process start date: 2023-06-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stopping Bonuses for Unsafe and Unsound Banking Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4207.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-20.

What are the main provisions?

Key points include:

  • Large banks are prohibited from paying discretionary bonuses if they have serious supervisory issues and no remediation plan.
  • The rules apply to banks with over $50 billion in assets, including holding companies and their subsidiaries.
  • The goal is to increase executive accountability and safeguard the stability of the banking system.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Pettersen, Brittany [D-CO-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy