Legis Daily

Incentivizing Safe and Sound Banking Act

USA118th CongressHR-4209| House 
| Updated: 6/20/2023
Maxine Waters

Maxine Waters

Democratic Representative

California

Cosponsors (8)
Sylvia R. Garcia (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Steven Horsford (Democratic)Al Green (Democratic)Brad Sherman (Democratic)Nydia M. Velázquez (Democratic)Rashida Tlaib (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Incentivizing Safe and Sound Banking Act This bill allows the Federal Deposit Insurance Corporation to, during cease-and-desist proceedings for unsafe or unsound practices in an institution, prohibit the sale of stock in a bank or holding company by an officer or director of the bank or any bank-affiliated party who received stock as compensation. Further, the bill automatically prohibits the sale of such stocks by senior executive officers or affiliated parties at large banks if the bank receives a certain risk management rating or if the bank is under an unresolved supervisory notice issued by a banking regulator.
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Timeline
Jun 20, 2023
Introduced in House
Jun 20, 2023
Referred to the House Committee on Financial Services.
  • June 20, 2023
    Introduced in House


  • June 20, 2023
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Incentivizing Safe and Sound Banking Act

USA118th CongressHR-4209| House 
| Updated: 6/20/2023
Incentivizing Safe and Sound Banking Act This bill allows the Federal Deposit Insurance Corporation to, during cease-and-desist proceedings for unsafe or unsound practices in an institution, prohibit the sale of stock in a bank or holding company by an officer or director of the bank or any bank-affiliated party who received stock as compensation. Further, the bill automatically prohibits the sale of such stocks by senior executive officers or affiliated parties at large banks if the bank receives a certain risk management rating or if the bank is under an unresolved supervisory notice issued by a banking regulator.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 20, 2023
Introduced in House
Jun 20, 2023
Referred to the House Committee on Financial Services.
  • June 20, 2023
    Introduced in House


  • June 20, 2023
    Referred to the House Committee on Financial Services.
Maxine Waters

Maxine Waters

Democratic Representative

California

Cosponsors (8)
Sylvia R. Garcia (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Steven Horsford (Democratic)Al Green (Democratic)Brad Sherman (Democratic)Nydia M. Velázquez (Democratic)Rashida Tlaib (Democratic)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted