Senate bill on bank exec pay clawbacks faces first test

The Senate Banking Committee is set to vote Wednesday morning on a bipartisan bill that would allow the FDIC to claw back some compensation from senior executives at failed banks.

Why it matters: The bill has the backing of two key senators on both sides of the aisle and looks to be lawmakers' main response to the failure of Silicon Valley Bank, which set off a mini-banking crisis this spring. READ MORE