3.0.0 1483 2022-11-15T16:34:51Z 2022-11-15T16:34:51Z House H HR 2013-04-11 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. WATERS:H.R. 1483.Congress has the power to enact this legislation pursuantto the following:Article I Section 8 of the Constitution of the UnitedStates of America.[Page H1957]]]> hsba00 Financial Services Committee House Standing Referred to 2013-04-11T04:00:20Z 2013-04-11 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-04-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-04-11 Introduced in House IntroReferral 1000 9 Library of Congress W000187 Rep. Waters, Maxine [D-CA-43] MAXINE WATERS D CA 43 N C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2013-04-11 True G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2013-04-11 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2013-04-11 True Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Congressional oversight Government employee pay, benefits, personnel management Government ethics and transparency, public corruption Government information and archives Legal fees and court costs Public contracts and procurement Finance and Financial Sector 00 2013-04-11 Introduced in House 2013-05-06T21:21:22Z Stop Outsourcing Banking Enforcement and Examination Act - Amends the Federal Deposit Insurance Act to prescribe requirements with which a federal banking agency must comply in order to use an independent consultant in implementing a consent order with a person it regulates.

Requires the agency to: (1) make specified information about the consent agreement and the independent consultant available to the public, (2) send Congress a quarterly status report, and (3) hire and pay the consultant directly (and receive reimbursement by the entity subject to the consent agreement).

Declares that any remediation or penalties under the consent order will not apply to, or be settled in conjunction with, any other consent order, settlement, or enforcement action.

Permits a private right of action by any person or class of persons aggrieved by the failure of an independent consultant to comply with the contract under which the consultant assists the agency if the consent order requires financial remediation to such person or class.

Requires a repayment (clawback) of fees to the agency from the independent consultant upon court determination that the consultant has violated either the terms of the contract or has failed to disclose required conflict of interest information.

Prohibits federal banking agency staff who were involved in approving an independent consultant from seeking employment with the consultant during any period in which the consent order is in effect.

Amends the Emergency Economic Stabilization Act of 2008 to confer oversight duties upon the Special Inspector General (SIG) for the Troubled Asset Relief Program (TARP) regarding: (1) consent orders entered into by a federal banking agency, and (2) the performance of independent consultants hired by the agency to assist in implementing such consent orders.

Repeals the SIG Office termination date.

Authorizes the SIG to bring a civil action against an independent consultant for damages and equitable relief for violations of the consultant's duties under the contract.

Directs the SIG to establish an whistleblower program which: (1) pays awards to whistleblowers who voluntarily provide original information leading to successful enforcement of a judicial or administrative action brought by the SIG against an independent consultant that results in monetary sanctions exceeding $1 million, and (2) prohibits a whistleblower's employer from discriminating against the whistleblower because of any lawful act the whistleblower performs.

]]> Stop Outsourcing Banking Enforcement and Examination Act Display Title Stop Outsourcing Banking Enforcement and Examination Act Short Titles as Introduced Stop Outsourcing Banking Enforcement and Examination Act Official Title as Introduced To amend the Federal Deposit Insurance Act to provide requirements for appropriate Federal banking agencies when using independent consultants in carrying out a consent order, to grant SIGTARP authority to provide oversight of such consultants, and for other purposes. Introduced in House 2013-04-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1483ih/xml/BILLS-113hr1483ih.xml 2013-04-11 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.