Hold Bank Execs Financially Accountable for Mismanagement! Pass the DEPOSIT Act.

I am writing to urge you to pass the Deliver Executive Profits on Seized Institutions to Taxpayers (DEPOSIT) Act that was recently introduced by Sen. Richard Blumenthal and U.S. Reps Adam Schiff (D-CA) and Mike Levin (D-CA). This important legislation would hold executives at failed banks financially responsible for their mismanagement and prevent them from selling off shares of stock, potentially profiting from their bank failure -- like Silicon Valley Bank CEO Greg Becker might have done when he sold $3.6 million of stock shortly before the collapse of SVB. American taxpayers shouldn’t be left holding the bag and bailing out banks while their executives are walking away with multi-million dollar compensation and bonus packages. Please respond in writing and let me know you co-sponsored this bill. Thanks!

▶ First sent on March 24 by Jess Craven