The FDIC proposed amendments to the Federal Deposit Insurance Act to allow certain individuals who have prior convictions to work for FDIC-insured financial institutions.
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The House Financial Services Committee marked up legislation offered by Democrats to advance targeted reforms in response to the failures of Silicon Valley Bank, Signature Bank and First Republic Bank.
A bipartisan group of Senators on the Banking, Housing and Urban Affairs Committee revised a bill to provide that "the Federal Deposit Insurance Corporation and appropriate Federal regulators have the authority to claw back certain compensation paid to executives."
The New York Department of Financial Services proposed guidance for financial institutions on conducting character and fitness reviews for directors, senior officers and managers.
The Senate Banking Committee considered testimony on legislative options for holding bank executives and regulators accountable following the failures of Silicon Valley Bank and Signature Bank.