[Congressional Record Volume 164, Number 39 (Tuesday, March 6, 2018)]
[Senate]
[Page S1383]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2053. Ms. STABENOW submitted an amendment intended to be proposed 
by her to the bill S. 2155, to promote economic growth, provide 
tailored regulatory relief, and enhance consumer protections, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. INCREASED CIVIL PENALTIES FOR CERTAIN FALSE 
                   CERTIFICATIONS TO SECRETARY OF VETERANS AFFAIRS 
                   REGARDING HOME LOANS TO BE GUARANTEED OR 
                   INSURED BY DEPARTMENT OF VETERANS AFFAIRS.

       (a) In General.--Subchapter III of chapter 37 of title 38, 
     United States Code, is amended by adding at the end the 
     following new section:

     ``Sec. 3737. Civil penalties for lenders making false 
       certifications regarding home loans

       ``(a) In General.--Notwithstanding section 3802 of title 
     31, any lender who knowingly and willfully makes a false 
     certification under section 36.4340(k)(2) of title 38, Code 
     of Federal Regulations, or successor regulation, shall be 
     liable to the United States Government for a civil penalty 
     equal to four times the amount of the Secretary's loss on the 
     loan involved or another appropriate amount, not to exceed 
     $50,000, whichever is greater.
       ``(b) Pattern or Practice.--(1) In any case in which a 
     lender described in paragraph (2) makes a false certification 
     under section 36.4340(k)(2) of title 38, Code of Federal 
     Regulations, or successor regulation, that is a part of a 
     pattern or practice of knowingly and willfully making false 
     certifications under such section that has had an effect on 
     500 or more veterans, the lender shall be liable to the 
     United States Government for a civil penalty equal to 
     $1,000,000 per veteran affected in addition to any amounts 
     the lender may be liable for under subsection (a).
       ``(2) A lender described in this paragraph is a lender 
     which has been identified as a global systematically 
     important BHC under section 217.402 of title 12, Code of 
     Federal Regulations, or successor regulation, or subject to a 
     determination under section 113 of the Dodd-Frank Wall Street 
     Reform and Consumer Protection Act (12 U.S.C. 5323).
       ``(c) Additional Remedies.--Any assessment under this 
     section may be in addition to other remedies available to the 
     Secretary.''.
       (b) Clerical Amendment.--The table of sections at the 
     beginning of chapter 37 of such title is amended by inserting 
     after the item relating to section 3736 the following new 
     item:

``3737. Civil penalties for lenders making false certifications 
              regarding home loans.''.
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