II 111th CONGRESS 1st Session S. 836 IN THE SENATE OF THE UNITED STATES April 20, 2009 Ms. Snowe (for herself and Mr. Wyden) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To provide enhanced authority to the Congressional Oversight Panel established pursuant to the Emergency Economic Stabilization Act of 2008.

1.

Subpoena power for congressional oversight panel

Section 125(e)(1) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5233(e)(1)) is amended— (1)by striking The Oversight and inserting the following: (A)

In general

The Oversight ; and (2)by adding at the end the following: (B)

Subpoena power

For purposes of carrying out this section, upon majority vote of its members, the Oversight Panel may require, by subpoena or otherwise, the attendance and testimony of witnesses and the production of such books, records, correspondence, memoranda, papers, documents, tapes, and materials as the Oversight Panel considers advisable. (C)

Issuance and enforcement of subpoenas

(i)

Issuance

A subpoena issued pursuant to subparagraph (B) shall bear the signature of a member of the Oversight Panel, and shall be served by any person or class of persons designated by the Oversight Panel for that purpose. (ii)

Enforcement

In the case of contumacy or failure to obey a subpoena issued under subparagraph (B), the subpoena shall be enforceable by order of any appropriate district court of the United States. Any failure to obey the order of the court may be punished by the court as a contempt of that court. .