Original Securities and Exchange Atonement Act of 2025
Sponsored By: Representative Green, Al [D-TX-9]
Introduced
Summary
Racial equity audits for covered securities issuers would require public reporting on ties to slavery and create a funded Treasury office to support atonement programs for minority low-to-moderate income communities.
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- Covered issuers would face independent racial equity audits every two years, must publish findings and reconciliation steps, and could face daily fines, a private right of action, and whistleblower awards for violations.
- A new Office of Minority Low-to-Moderate Income Programs in the Department of the Treasury would administer grants for startup capital, funded savings, and related activities, with an authorization of $3.0 billion and up to 2 percent for administration.
- HUD and Treasury would run housing and community programs funded under the act, including housing counseling, downpayment assistance, eviction and foreclosure help, production of affordable housing, and rental assistance through Housing Choice Vouchers.
*Authorizes $3.0 billion for a new Treasury office and related programs, which would increase federal spending.*
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
Cash awards for whistleblowers with tips
If enacted, people who give original tips that lead to enforcement would get cash awards. Awards must be at least $20,000. The Commission would set exact amounts by rule. Tips must be from your own knowledge or analysis.
Housing and savings help in minority communities
If enacted, Treasury would create an office to fund savings and startups in minority communities. It would get $3 billion, and may use 2% for admin. Half of fines would go to Treasury and half to HUD. HUD would fund counseling, eviction help, housing builds, and vouchers. Low-to-moderate income means under 80% of HUD area median income where you live. A neighborhood would qualify if 51% or more of households are under that level. These definitions would guide who can get help.
New equity audits and fines for big companies
If enacted, big companies that use interstate commerce would face independent racial equity audits. It would start within six months and repeat every two years. Reports must be public and filed with the Commission. If ties to slavery are found, companies must disclose steps to reconcile. The Commission could fine firms $20,000 per day until fixed. It could fine intentional officers $2,000 per day. Covered firms include those with over 100 employees or $300 million capitalization.
Investors could sue over missing reports
If enacted, investors harmed by a missing report could sue the issuer in federal court. The bill does not set damage formulas or caps.
Sponsors & CoSponsors
Sponsor
Green, Al [D-TX-9]
TX • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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