PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Nov 19, 2008
Accountability for Economic Rescue Assistance Act of 2008 - Prohibits recipients of emergency economic assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 or under the Federal Reserve Act, or any subsidiary, from using such funds for lobbying expenditures or political contributions.
Requires the Secretary of the Treasury to develop and publish corporate governance principles and ethical guidelines for recipients of such funds, including restrictions governing: (1) the hosting, sponsorship, or payments for conferences and events; (2) the use of corporate aircraft, travel accommodations, and travel expenditures; (3) expenses relating to office or facility renovations or relocations; and (4) expenses relating to entertainment, holiday parties, employee recognition events, or similar ancillary corporate expenses.
Requires recipients of such funds to file quarterly reports and certifications with the Secretary, which shall be made publicly available online, and at no cost.
Showing the opening paragraphs of the official summary.
Subjects violators of this Act to specified civil penalties.
Makes any person who violates this Act ineligible to receive any future emergency economic assistance unless the Secretary determines that reasonable steps have been taken to bring actions into compliance with and to prevent future violations of this Act.
People & committees
Sen. Feinstein, Dianne [D-CA] · D–CA
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsor introductory remarks on measure. (CR S10660-10661)
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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Analyze S.3698 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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