H.R. 3436 · 111th Congress
TARP Executive Disclosure Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CummingsSponsorNo cosponsors.
TARP Executive Disclosure Act - Requires each chief executive officer of any financial institution that receives federal assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA), or other specified federal law, to report to the Secretary of the Treasury specified financial information required…
What it does: CRS summary · Introduced in House · Jul 31, 2009
TARP Executive Disclosure Act - Requires each chief executive officer of any financial institution that receives federal assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA), or other specified federal law, to report to the Secretary of the Treasury specified financial information required under the Ethics in Government Act of 1978.
Treats the Secretary as the designated agency ethics official for purposes of: (1) taking any action under the Ethics in Government Act of 1978 with respect to any person who fails to file such a report, or who files a false report; (2) acting as custodian of, and providing public access, to reports filed under this Act; and (3) reviewing such reports.
Authorizes the Secretary, in addition to any other specified action against an individual who fails to comply with this reporting requirement, to terminate and require the repayment of the assistance provided to a financial institution which gave rise to the reporting requirement with respect to any of its senior executive officers.
Requires the Board of Governors of the Federal Reserve System or the Federal Deposit Insurance Corporation (FDIC) to carry out the Secretary's determination with respect to any assistance to the financial institution the Board or the FDIC provided.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: TARP Executive Disclosure Act
Latest action (Sep 14, 2009): Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 31, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.