Bank Executive Pay, Cannabis Bills on Tap in Senate Before July

Senate Banking Committee Chairman Sherrod Brown said his panel will mark up legislation dealing with executive compensation in the US banking industry before the July 4 recess.

Legislation addressing abuses and mismanagement seen at banks including failed Silicon Valley Bank (SVB) and Signature Bank will move in committee before lawmakers depart for their next break, Brown (D-Ohio) said in an interview late Tuesday. That break is now expected by June 22.

Brown speaks during a hearing in Washington, DC, on May 18.

Photographer: Al Drago/Bloomberg

Brown earlier sharply criticized bank officials for distributing bonuses and authorizing stock purchases before the banks’ collapse and is said to have been evaluating proposals to empower regulators to ...