Jack, sign the petition: Claw back excessive profits of failed bank executives

Sign the petition
On March 10, mere hours before federal bank regulators rushed in to take over Silicon Valley Bank, its executives gave themselves huge bonuses. They did this because, in the current financial regulatory environment, they knew that they could get away with it.

Three of the four largest bank failures in U.S. history have all happened this year, after each of their CEO's made obscene profits. First Republic Bank's head made $17.8 million in 2021. Silicon Valley Bank's executive made $13.6 million in 2022, while at the same time Signature Bank's chief got $8.7 million.

These banks gambled with our money, while their executives held golden parachutes for when bets went wrong. It is time to hold them accountable.

Sign the petition to Congress: Pass the Failed Bank Executives Clawback Act.

Sign the petition
The Failed Bank Executives Clawback Act—written by Senator Elizabeth Warren, and already with bipartisan support—would require the FDIC to claw back from bank executives all or part of the compensation they received over the five-year period before a bank failure.

Lack of federal oversight and few consequences have bred a culture of corruption, where bank executives believe they are untouchable. We have already seen three of the four largest bank failures in U.S. history in 2023 alone. How many more executives will get away with it?

Sign the petition to Congress: Hold bank executives accountable for their misdeeds. Pass the Failed Bank Executives Clawback Act.

Sign the petition
Keep fighting,
Paul Hogarth, Daily Kos