Two unlikely Senate allies want to turn up the heat for executives who lead their banks to ruin, as politicians grapple with the fallout from the Silicon Valley Bank collapse.
On Wednesday, Democratic Sen. Elizabeth Warren and Republican Sen. Josh Hawley, along with Sens. Mike Braun and Catherine Cortez Masto, introduced a bill called "Failed Bank Executives Clawback Act," which would require that federal regulators "claw back" compensation of executives from the five-year period before their bank fails.