The Curtailing Unreasonable Remuneration at Banks Act gives the Director of the Federal Housing Finance Agency new authority to set and regulate executive compensation at Federal Home Loan Banks. Currently, these banks have more independence in determining what they pay their top executives, but this bill would allow the federal regulator to establish compensation levels that are "reasonable and comparable" through new regulations. The legislation affects Federal Home Loan Bank executives and their compensation packages, though it does not specify any particular funding amounts or implementation timeline beyond the requirement that the Director create regulations to carry out this authority. The bill essentially shifts power over executive pay decisions from the banks themselves to federal oversight, aiming to ensure taxpayer-backed institutions maintain reasonable executive compensation levels.
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