S. 1005 · 116th Congress
Ending Too Big to Jail Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarrenSponsorNo cosponsors.
This bill addresses fraud and criminal conduct within financial institutions.
What it does: CRS summary · Introduced in Senate · Apr 3, 2019
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Ending Too Big to Jail Act
Latest action (Apr 3, 2019): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Apr 3, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.