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The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract. [1] [2]
Overage or land-sale overage (also called “claw back”) is a term in land sales used to describe a sum of money in addition to the original sale price which a seller of land may be entitled to receive following completion if and when the buyer complies with agreed conditions.
Allen also suggested that overpaid recipients can fight an SSA “clawback” by requesting a reconsideration. In this instance, you can seek a direct appeal because you believe the agency is ...
Ramaswamy says that loan and others like it are “high on the list of items” that he will look to claw back once his cost-cutting commission, known as the Department of Government Efficiency ...
For borrowers, there’s little upside to defaulting since the debts are hard to discharge in bankruptcy and the government can use legal tools like wage garnishment to eventually claw back its money.
Under the faithless servant doctrine, which is a doctrine under the laws of a number of states in the United States, and most notably New York State law, an employee who acts unfaithfully towards his or her employer must forfeit all compensation received during the period of disloyalty, which compensation is subject to clawback by the employer.
Disgorgement is the act of giving up something on demand or by legal compulsion, for example giving up profits that were obtained illegally. [1]In United States regulatory law, disgorgement is often a civil remedy imposed by some regulatory agencies to seize illegally obtained profits.
A bipartisan effort to ‘claw back’ compensation from bank executives is one of the most significant legislative moves to rein in the industry since the collapse of Silicon Valley Bank.