H.R. 6705 — Stopping Bonuses for Unsafe and Unsound Banking Act

This section prohibits a covered banking institution (i.e., a bank holding company or standalone bank with more than $50 billion in consolidated assets, or a bank subsidiary thereof) from making any discretionary bonus payment to a senior executive officer upon receipt of a “matter requiring immediate attention” (or similar supervisory notice) from the appropriate Federal banking agency until the matter is resolved to the agency's satisfaction. An exception applies during the period for submitting a remediation plan (as determined by the agency) and, if the plan is accepted, during its implementation period.