Wall Street Banker Accountability for Misconduct Act of 2019 This bill requires large bank holding companies and their subsidiaries to establish funds to pay their criminal and civil fines. Specified senior employees must annually contribute a portion of their salaries to these funds. If sufficient funds remain 10 years after the contribution, the contributing employees must be repaid. The bill provides for separate treatment of funds contributed by former employees.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Banking and financial institutions regulationCivil actions and liabilityCorporate finance and managementEmployee benefits and pensionsFraud offenses and financial crimesWages and earnings
Wall Street Banker Accountability for Misconduct Act of 2019
USA116th CongressHR-3885| House
| Updated: 7/23/2019
Wall Street Banker Accountability for Misconduct Act of 2019 This bill requires large bank holding companies and their subsidiaries to establish funds to pay their criminal and civil fines. Specified senior employees must annually contribute a portion of their salaries to these funds. If sufficient funds remain 10 years after the contribution, the contributing employees must be repaid. The bill provides for separate treatment of funds contributed by former employees.
Banking and financial institutions regulationCivil actions and liabilityCorporate finance and managementEmployee benefits and pensionsFraud offenses and financial crimesWages and earnings