Banker’s Pay

President Biden's call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds stemming from the Silicon Valley Bank (SVB) collapse has found a receptive audience on Capitol Hill.  Democrats and Republicans are unlikely to come together to tighten bank regulations following the collapse of SVB of Santa Clara, CA, and Signature Bank of New York City, but members of both parties say they are open to legislation that would punish executives for their role in the bank failures. Democrats are toying with ideas that would retroactively apply to SVB and Signature executives, and Republicans say any legislation would have to be narrowly tailored, even to the point of applying only to the two failed banks.