Letters to Congress: Letter in Support of the RECOUP Act

View or download the letter here.
Americans for Financial Reform led a coalition letter to Majority Leader Schumer and Minority Leader McConnell urging them to pass S. 2190, the Recovering Executive Compensation from Unaccountable Practices (RECOUP) Act.  This legislation would make it easier to hold executives accountable — and prevent the excessive risk-taking that leads to bank failures in the first place.
The RECOUP Act was voted out of the Banking, Housing, and Urban Affairs Committee with overwhelming bipartisan support: 21 out of 23 senators voted for it.  Almost six months after the collapse of SVB, it is time to pass this timely, bipartisan legislation.  Congress should not wait for another banking crisis to take action.