As reported by the Senate Committee on Banking, Housing, and Urban Affairs on June 22, 2023
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
*
1
1
Revenues
*
-12
-26
Increase or Decrease (-) in the Deficit
*
13
27
Spending Subject to Appropriation (Outlays)
0
0
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
< $2.5 billion
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
< $5 billion
Contains intergovernmental mandate?
No
Contains private-sector mandate?
Yes, Under Threshold
* = between zero and $500,000.
The bill would
Grant the Federal Deposit Insurance Corporation the authority to recover bonus compensation from senior bank executives in the event their institution fails
Require federal banking agencies to report about the failure of an institution and the agency’s supervisory and regulatory policies and performance
Require banks and bank holding companies to adopt governance and accountability standards
Expand the authority of federal banking agencies to remove senior executives from their positions
Increase the cap on civil penalties for senior executives who recklessly violate the law
Impose private-sector mandates as defined by the Unfunded Mandates Reform Act.
Estimated budgetary effects would mainly stem from
Additional administrative responsibilities required for federal banking agencies
Decrease in bank losses due to recovered bank executive compensation
