; and (2) the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, the Securities and Exchange Commission, the Federal Housing Finance Agency should jointly finalize the regulations or guidelines required under section 956 of the Investor Protection and Securities Reform Act of 2010 , and those regulations or guidelines should include robust clawback requirements. 3. Clawback authority (a) In general Section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ) is amended by adding at the end the following: (x) Recoupment of compensation from executive officers and directors (1) In general During any period in which the Corporation is acting as conservator or receiver for an insured depository institution, the Corporation may recover, from any current or former executive officer or director of such insured depository institution whose negligence caused financial loss to such insured depository institution, any compensation received during the 2-year period preceding the date on which the Corporation was appointed as the conservator or receiver of the insured depository institution, except that, in the case of fraud, no time limit shall apply. (2) Rulemaking The Corporation shall promulgate regulations to implement the requirements of this subsection, including defining the term compensation to mean any financial remuneration, including salary, bonuses, incentives, benefits, severance, deferred compensation, or golden parachute benefits, and any profits realized from the sale of the securities of the insured depository institution (or the securities of an affiliate of the insured depository institution). . (b) Clawback authority relating to orderly liquidation authority Section 210(s)(1) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended as follows: (1) In general The Corporation, as receiver of a covered financial company, may