,,ii #aaith ,,congress #b;d ,session ,s4 #djej ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #aa1 #bjbf,ms4 ,warren 7for herself1 ,mr4 ,hawley1 ,ms4 ,cortez ,masto1 ,mrs4 ,britt1 ,mr4 ,gallego1 ,mr4 ,cramer1 ,mr4 ,warner1 ,mr4 ,van ,hollen1 ,ms4 ,smith1 ,mr4 ,warnock1 ,mr4 ,fetterman1 ,mr4 ,kim1 ,ms4 ,blunt ,rochester1 and ,ms4 ,alsobrooks7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,federal ,deposit ,insurance ,act to clarify that the ,federal ,deposit ,insurance ,corporation and appropriate ,federal regulators have the authority to claw back certain compensation paid to executives1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,failed ,bank ,executives ,clawback ,act4 #b4 ,clawback ,section #h7;b7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahah7;b77 is amended by inserting after paragraph 7#h7 the following3 7#i7 ,clawback 7,a7 ,definitions ,in this paragraph3 7i7 ,covered compensation ,the term covered compensation means-- 7,i7 salary2 7,,ii7 bonuses2 7,,iii7 any compensation that is granted1 earned1 or vested based wholly or in part upon the attainment of any financial reporting measure or other performance metric2 7,,iv7 equity-based compensation2 7,v7 time- or service-based awards2 7,,vi7 awards based on nonfinancial metrics2 and 7,,vii7 any profits realized from the buying or selling of securities4 7ii7 ,covered party 7,i7 ,in general ,the term covered party means an entity described in subclause 7,,ii7 with respect to an insured depository institution that caused more than a minimal financial loss to1 or a significant adverse effect on1 the insured depository institution4 7,,ii7 ,entities described ,an entity described in this subclause is any of the following3 7aa7 ,any director1 officer1 or controlling stockholder 7other than a bank holding company or savings and loan holding company7 of an insured depository institution4 7bb7 ,any other person who has filed or is required to file a change-in-control notice with the appropriate ,federal banking agency under section #g7;j74 7cc7 ,any shareholder 7other than a bank holding company or savings and loan holding company71 joint venture partner1 and any other person as determined by the appropriate ,federal banking agency 7by regulation or case-by-case7 who-- 7,,aa7 participates in the conduct of the affairs of an insured depository institution2 and 7,,bb7 was found by the appropriate ,federal banking agency to be primarily responsible for the failed condition of the insured depository institution4 7,b7 ,clawback 7i7 ,liability of covered party ,a covered party with respect to an insured depository institution with total assets more than #aj1jjj1jjj1jjj is liable to the ,corporation for any covered compensation clawed back under clause 7ii74 7ii7 ,required clawbacks ,in the case of insolvency1 resolution1 or the appointment of the ,corporation as receiver of any insured depository institution with total assets more than #aj1jjj1jjj1jjj1 the ,corporation shall claw back all or part of the covered compensation received by any covered party with respect to the insured depository institution during the preceding #c years4 7iii7 ,deposit ,any covered compensation clawed back under this subparagraph shall be deposited into the ,deposit ,insurance ,fund4 4 #c4 ,orderly liquidation of covered financial companies ,section #bjd7;a77#c7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7#ab ,u4,s4,c4 #echd7;a77#c77 is amended by striking the financial company and inserting of a financial company for which the ,corporation is appointed receiver1 regardless of the process by which the ,corporation is appointed14