Biden Pushes for Accountability of Bank Executives in Wake of Failures.
President Biden has requested Congress to pass legislation that would give financial regulators new powers to claw back ill-gotten gains from executives of failed banks and impose fines for failures. The proposal would also seek to bar executives at failed banks from taking other jobs in the financial industry. The measures contained in Mr. Biden’s plan would build on existing regulatory powers held by the Federal Deposit Insurance Corporation. The proposals face an uncertain future in Congress, where Republicans control the House and have opposed other pushes by Mr. Biden to strengthen federal regulations.