Warren introduces legislation making it easier to jail top executives
By Tal Axelrod - 04/03/19 11:05 AM EDT
Sen. Elizabeth Warren (D-Mass.) introduced legislation Wednesday making it easier to jail executives if they or their corporations break the law or commit civil violations.
The Corporate Executive Accountability Act would expand criminal liability to negligent executives of corporations with more than $1 billion in annual revenue. The executives would also be penalized if they repeatedly broke the law or breached civil statutes, such as those protecting personal data or consumers' safety.
The Massachusetts Democrat also reintroduced the Ending Too Big to Jail Act, which seeks to hold big bank executives accountable when their banks break the law.
“Corporations don’t make decisions, people do, but for far too long, CEOs of giant corporations that break the law have been able to walk away, while consumers who are harmed are left picking up the pieces,†Warren, who formally announced her presidential ambitions in February, said in a statement.
“These two bills would force executives to responsibly manage their companies, knowing that if they cheat their customers or crash the economy, they could go to jail.â€
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https://thehill.com/homenews/senate/437128-warren-introduces-legislation-making-it-easier-to-jail-top-business