Incentivizing Safe and Sound Banking Act
This bill is stalled.
No action in 3 months. It may still move, but has lost momentum.
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 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.
Filed in the House
This house bill has been filed and is working its way through Congress. It will need to pass both the House and the Senate, then be signed by the President to become law.
Who introduced this
Maxine Waters
DemocratU.S. Representative · CA-43
Introduced solo — no cosponsors yet.
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