US Congress Senate Bill 1005 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 3 2019 - 25% progression, died in committee
Action: 2019-04-03 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Addresses fraud and criminal conduct within financial institutions. The bill replaces the Office of the Special Inspector General for the Troubled Asset Relief Program with the Office of the Special Inspector General for Financial Institution Crime and tasks the office with investigating crimes within financial institutions when such institutions fail. Financial institutions, bank holding companies, and savings and loan holding companies with assets greater than $10 billion must annually certify that all criminal conduct and civil fraud has been disclosed to the Department of Justice. The bill establishes civil and criminal penalties for violations. The bill also revises the circumstances under which the government may enter into a deferred prosecution agreement with defendants that are not individuals. These agreements must be determined by the court to be in the public interest.

Ending Too Big to Jail Act

Sen. Elizabeth Warren [D-MA]

Date	Chamber	Action
2019-04-03	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1005/all-info
Text	https://www.congress.gov/116/bills/s1005/BILLS-116s1005is.pdf