WASHINGTON – House Democrats will unveil a slate of reform bills on Tuesday in response to recent bank failures that have sparked the sector’s worst crisis since 2008.

Members of the House Committee on Financial Services, led by Rep. Maxine Waters, D-Calif., seeks to expand the reach of federal regulators and more oversight of bank executives, including clawing back compensation, fines and closing loopholes that allowed some banks to escape standards put in place under the 2010 Dodd-Frank Act.

The committee carefully examined the actions of the Treasury Department, the Federal Deposit Insurance Corporation, or FDIC, and other federal regulators, along with executives at Silicon Valley Bank and Signature Bank, leading up to and after the bank collapse.

Waters called on committee Republicans to follow the Senate Banking Committee’s lead and work with Democrats to advance bipartisan legislation to protect the economy from future damage.

“The failures of Silicon Valley Bank, Signature Bank and First Republic Bank make clear that the time has come for legislation to strengthen the safety and soundness of our banking system and strengthen the accountability of bank managers,” she said.

Here are the bills to consider:

The Law on Liability and Consequences of Bank Management Failure: The bill would expand regulatory powers to claw back compensation, fines and bar future industry workers from executives who contribute to bank failures. President Joe Biden called for these actions shortly after the FDIC took over SVB and Signature Bank in March. The bill is co-sponsored by Waters and fellow Democrats Nydia Velazquez of New York; Brad Sherman and Juan Vargas, both of California; David Scott of Georgia; Al Green and Sylvia Garcia of Texas; Emanuel Cleaver of Missouri; Joyce Beatty and Steven Horsford, both of Ohio; and Rashida Tlaib of Michigan. Some Republicans have expressed support for the act, which is similar bipartisan bill is being considered by the Senate Banking Committee.

Safe and Sound Banking Incentive Act: The measure would expand regulators’ power to ban stock sales to executives when banks receive cease-and-desist orders for violating the law. It would also automatically limit the sale of shares by executives of banks that receive poor test scores or fail to meet supervisors’ requirements. According to Democrats, the bill would prevent SVB bank management from collecting after repeated warnings from regulators. It is co-sponsored by Waters, Velazquez, Sherman, Green, Cleaver, Beatty, Horsford and Tlaib.

Closing the Loophole Act in the Enhanced Prudential Standards: This will aim to close loopholes around the Dodd-Frank Act’s enhanced prudential standards for banks that do not have a bank holding company. Neither Signature Bank nor SVB had a bank holding before the collapse. The bill would ensure that large banks of the same size, complexity and risk as large banks with holding companies are subject to similar requirements for increased capital, liquidity, stress testing, resolution planning and other related requirements. It is co-sponsored by Waters, Velazquez, Sherman, Green, Cleaver, Beatty, Vargas, Garcia and Tlaib.

HR 4204, Protecting Community Banks from the Systemic Risk Assessment Act: The measure would permanently exempt banks with less than $5 billion in total assets from the special assessments the FDIC collects when the systemic risk exemption is triggered, which was done to protect depositors at Silicon Valley Bank and Signature Bank. The FDIC could set a higher threshold while requiring minimal impact on banks with total assets between $5 billion and $50 billion. It is sponsored by Green.

HR 4062Chief Risk Officer Enforcement and Accountability Act: The measure would make federal regulators require big banks to have a chief risk officer. Banks would also have to notify federal and state regulators of a CRO vacancy within 24 hours and provide a hiring plan within seven days. If the CRO position remains vacant after 60 days, the bank must notify the public and be subject to automatic asset growth restrictions until the position is filled. The bill is co-sponsored by Sherman, Green and fellow Democrats Sean Casten of Illinois; Josh Gottheimer of New Jersey; Ritchie Torres of New York; and Wiley Nickel of North Carolina.

HR 3914Fairness Acquisition of Failed Banks Act: This bill would have the FDIC consider only bids from megabanks with more than 10% of total deposits if no other institution meets the lowest-cost test. That, Democrats say, would give smaller banks a chance to buy failed banks. It is sponsored by Rep. by Stephen Lynch, D-Mass.

HR 3992Effective Banking Regulation Act: This legislation would require regulators to expand stress test requirements. Instead of two stress test scenarios, the bill would require five. It would also ensure that the Federal Reserve conducts stress tests for situations where interest rates rise or fall. It is sponsored by Sherman.

HR 4116the Systemic Risks Office Transparency Act: The bill would require regulators and the Government Accountability Office, or GAO, to produce the same kind of post-failure reports that the Federal Reserve, FDIC and GAO did after the failures of Silicon Valley Bank and Signature Bank. Initial reports would be required within 60 days and comprehensive reports within 180 days. It would be applicable to any application of the systemic risk exception to the FDIC’s least-cost discrimination test. The bill is sponsored by Green.

HR 4200Fostering Accountability in Remuneration Fund Act of 2023 or FAIR Fund Act: The legislation would require large financial institutions to cover penalties incurred after executive failure and/or actions through a deferred compensation fund that would be funded from a portion of executive compensation. The fund would be paid out between two and eight years, depending on the size of the institution. The bill is sponsored by Tlaib.

Stopping Bonuses for the Dangerous and Unsound Banking Act: The measure would freeze bonuses for executives at any big bank that fails to submit an acceptable remediation plan for what is known as a matter requiring immediate attention, or MRIA, or a similar citation from banking supervisors by a deadline set by the regulator. It is sponsored by Rep. Brittany Pettersen, D-Colo.

Bank Security Act: Big banks would be prevented from opting out of the requirement to recognize accumulated other comprehensive income, or AOCI, in regulatory capital under the bill. AOCI reflects the type of unrealized losses in SVB’s securities portfolio. It is sponsored by Sherman.