The Progressive


A project of Common Dreams

For Immediate Release

Groundwork Urges Congress to Claw Back Compensation from Reckless Bank Executives

Last week, President Biden called on Congress to take action to strengthen the ability of the federal government to hold senior bank executives accountable. Groundwork Collaborative’s Executive Director Lindsay Owens commended the White House for taking this important step in the right direction:

“The President is right – no one should be above the law and no bank executives should be allowed to keep their massive bonuses after running their banks into the ground. Congress can and must do more to stabilize our banking system – and that starts with making it easier for regulators to claw back compensation from reckless bank executives.”

The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.