This bill prevents large banks from giving bonuses to their top executives when they face serious problems until those issues are resolved. It encourages banks to fix their problems before rewarding their leaders.
If you work for a large bank, your executives won't get bonuses if the bank has unresolved serious problems.
Who this affects
Top executives · Large banks
What changes is this bill making?
1This bill stops large banks from paying bonuses to top executives when they have serious issues.
2If a bank is told it has a problem, it cannot give out discretionary bonuses until the issue is fixed.
3Banks can only pay bonuses if they submit a plan to fix the problem and it gets approved.
4The bill applies to banks with over $50 billion in assets.
5It aims to hold banks accountable for their actions and ensure they address serious concerns.
