1. Short title This Act may be cited as the Wall Street Banker Accountability for Misconduct Act of 2019 . 2. Findings The Congress finds the following: (1) Senior employees of major bank holding companies receive extraordinary pay packages, even when they oversee massive frauds and financial misconduct. (2) Widespread financial misconduct by individual Wall Street bankers led to the 2008 financial crisis, which caused the Great Recession. The Department of Justice brought litigation against every major bank, resulting in more than $163,000,000,000 in fines. (3) This misconduct resulted from the actions of individuals and was a direct result of a banking culture that rewards bad behavior. (4) Despite the actions of individuals, Wall Street banks paid billions of dollars in fines out of monies that otherwise were owned and could be paid in dividends to shareholders. While culpable bankers continued to receive extraordinary pay, innocent shareholders paid the price for banker misconduct. (5) In the aftermath of the Great Recession, and after further misconduct in the financial services industry, the Federal Reserve Bank of New York has urged financial firms to reevaluate and reform their compensation incentive structures to align with shareholders and customers interests. (6) Misaligned incentives within the banking industry continue to fail to hold Wall Street executives and their senior employees accountable for their actions. 3. Deferment of senior employee compensation The Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 et seq.) is amended by inserting after section 5 the following: 6. Deferment of senior employee compensation (a) Deferment fund Each covered bank holding company and each subsidiary of a covered bank holding company shall establish a deferment fund, which shall— (1) only contain compensation deferred under subsection (b)