Commercial Bank CEOs Barred from Governor Appointment for Two Years Post-Resignation
Summary
Commercial bank CEOs will be barred from being appointed governor for two years after leaving office under a new provision approved by the House of Representatives Finance Committee. The amendment also disqualifies people with 0.5 percent or more ownership in any bank from becoming governor, deputy governor or director.
Key Points
- The House of Representatives Finance Committee has amended Section 21(C) of the bill to block commercial bank CEOs from becoming governor for two years after resignation.
- Current officials of commercial banks and financial institutions, as well as CEOs who have not completed two years since retirement, are disqualified from the governor post.
- People holding 0.5 percent or more shares in any bank will also be barred from appointments as governor, deputy governor, or director.
