H.R. 4200 · 118th Congress
FAIR Fund Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
TlaibSponsorNo cosponsors.
Fostering Accountability In Remuneration Fund Act of 2023 or the FAIR Fund Act of 2023
What it does: CRS summary · Introduced in House · Jun 16, 2023
Fostering Accountability In Remuneration Fund Act of 2023 or the FAIR Fund Act of 2023
This bill requires large financial institutions to defer part of senior employees' compensation and deposit the deferred compensation in a fund established by the institution. This fund must be used to pay civil or criminal fines levied against the institution or, if the institution is a bank or credit union, to make depositors whole in the event of a failure. If sufficient funds exist at the end of a specified period of time, senior employees must receive their deferred compensation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FAIR Fund Act of 2023
Also known as: Fostering Accountability In Remuneration Fund Act of 2023
Latest action (Jun 16, 2023): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 16, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.