118th Congress Finance and Financial Sector
H.R. 4200: FAIR Fund Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires large financial institutions to defer part of senior employees' compensation and deposit the deferred compensation in a fund established by the institution. This fund must be used to pay civil or criminal fines levied against the institution or, if the institution is a bank or credit union, to make depositors whole in the event of a failure. If sufficient funds exist at the end of a specified period of time, senior employees must receive their deferred compensation.
Written by the Congressional Research Service, Library of Congress.
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History
- Introduced in the House by Rashida Tlaib.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.