Senate Banking Committee Passes Bill to Claw Back Bank Executive Pay
In the most significant bipartisan response since the banking turmoil this past spring, the Senate Bank Committee approved legislation to claw back compensation from bank executives after their financial institutions fail. The Recovering Executive Compensation from Unaccountable Practices (RECOUP) Act reins in the banking industry by imposing new fines for misconduct, restricting failed executives from working in the financial sector, ...
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