H.R. 9490, Executive Compensation Accountability Measure. Quorum's AI analysis reads it as a net benefit — and names who gains.
H.R. 9490 · Net good
What it does
This bill requires large financial institutions (those with over $1 billion in assets) to defer at least 50% of compensation for senior executives and highly paid employees that exceeds 7 times the median employee salary. The deferred money goes into a fund that must first be used to pay any fines the institution incurs or to reimburse depositors if the bank fails, before federal deposit insurance kicks in. If the fund runs out, the deferred compensation is cancelled.
The analysis names taxpayers (reduced deposit insurance payouts) — and 1 more group — among the beneficiaries.
The trade-off
Deferred compensation funds become a quasi-insurance pool that reduces reliance on federal Deposit Insurance Fund, potentially lowering future deposit insurance premiums for all banks and shifting failure costs to executives rather than taxpayers.
Transparency scores 82%, with a medium warning level and no provisions unrelated to the bill's subject.
Who is behind it
Filed by Rashida Tlaib. Cosponsored by Al Green, Stephen Lynch and Summer Lee.