A bill that would take back pay from executives whose banks fail appears likely to advance in the Senate, several months after Silicon Valley Bank's implosion rattled the tech industry and tanked financial institutions' stocks.
"Shortly after the collapse of SVB, CEO Greg Becker fled to Hawaii while the American people were left holding the bag for billions," Scott said during the hearing, adding,"these bank executives were completely derelict in their duties."
The proposal is policymakers' latest push to stave off a potential banking crisis months after a series of large bank failures rattled the finance industry. In March, Democratic Sens. Elizabeth Warren of Massachusetts and Catherine Cortez-Masto of Nevada teamed up with Republican Sens. Josh Hawley of Missouri and Mike Braun of Indiana to propose the
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