S. 1790 — Failed Bank Executives Clawback Act

This bill requires the Federal Deposit Insurance Corporation (FDIC) to claw back compensation from specific responsible parties in case of a large insured depository institution's insolvency, resolution, or receivership. This clawback requirement applies to an entity (including a director, shareholder, or other person who participates in the conduct of the institution's affairs) that caused more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution. The compensation subject to the clawback requirement includes salary, bonuses, awards, and any profits realized from the buying or selling of securities during the preceding three years. The bil...