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S 1005 116th Congress Senate Finance and Financial Sector Accounting and auditing Banking and financial institutions regulation Civil actions and liability Criminal investigation, prosecution, interrogation Executive agency funding and structure Financial crises and stabilization Fraud offenses and financial crimes Government information and archives Government studies and investigations

Ending Too Big to Jail Act

Introduced: April 3, 2019 Introduced by: Warren, Elizabeth Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 3, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 3, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Ending Too Big to Jail Act

This bill 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.

What's happening now April 3, 2019

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1