Senate Banking Committee Gears Up For Vote On Seizing Executive Compensation Following Bank Failures: Sen. Warren Says Bankers Can't 'Walk Away Scot-Free'
Portfolio Pulse from Piero Cingari
The U.S. Senate Banking Committee is set to deliberate on the RECOUP Act, which would grant regulators the power to seize executive compensation following bank failures. The bill is backed by Senate Banking Committee Chairman Sherrod Brown and Sen. Tim Scott and aims to increase regulatory authority and accountability.
June 20, 2023 | 4:05 pm
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The RECOUP Act could impact the financial sector, potentially affecting the SPY ETF, as it seeks to increase regulatory authority and accountability following bank failures.
The RECOUP Act is focused on the financial sector, which is a component of the SPY ETF. The bill aims to increase regulatory authority and accountability, which could lead to changes in the financial sector's performance. However, the impact on the SPY ETF would depend on the overall effect of the bill on the financial sector and the weight of the financial sector within the ETF. As the SPY ETF is diversified across various sectors, the impact of the bill on the ETF may be limited.
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