I 
111TH CONGRESS 
1ST SESSION H. R. 3436 
To require chief executive officers of certain financial institutions that receive 
assistance under title I of the Emergency Economic Stabilization Act 
of 2008, under the 3d undesignated paragraph of section 13 of the 
Federal Reserve Act, or from the Secretary of the Treasury or the 
Federal Deposit Insurance Corporation under any other provision of 
law to submit financial disclosures under the Ethics in Government 
Act of 1978 to the Secretary of the Treasury, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 31, 2009 
Mr. CUMMINGS introduced the following bill; which was referred to the Com-
mittee on Financial Services, and in addition to the Committees on Over-
sight and Government Reform and the Judiciary, for a period to be sub-
sequently determined by the Speaker, in each case for consideration of 
such provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To require chief executive officers of certain financial institu-
tions that receive assistance under title I of the Emer-
gency Economic Stabilization Act of 2008, under the 
3d undesignated paragraph of section 13 of the Federal 
Reserve Act, or from the Secretary of the Treasury or 
the Federal Deposit Insurance Corporation under any 
other provision of law to submit financial disclosures 
under the Ethics in Government Act of 1978 to the 
Secretary of the Treasury, and for other purposes. 
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22:25 Aug 03, 2009
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘TARP Executive Dis-
closure Act’’. 
SEC. 2. FINANCIAL DISCLOSURES REQUIRED. 
(a) IN GENERAL.—Before the disclosure due date, 
each chief executive officer of any financial institution that 
receives assistance under title I of the Emergency Eco-
nomic Stabilization Act of 2008, under the 3d undesig-
nated paragraph of section 13 of the Federal Reserve Act, 
or from the Secretary of the Treasury or the Federal De-
posit Insurance Corporation under any other provision of 
law that, in the aggregate exceeds $30,000,000,000 from 
all such sources, shall file with the Secretary of the Treas-
ury a report containing all the information required under 
section 102 of the Ethics in Government Act of 1978 in 
the same manner and to the same extent such senior exec-
utive officer would be required such a report if the officer 
were described in section 101(b)(1) of such Act. 
(b) TREATMENT UNDER THE ETHICS IN GOVERN-
MENT ACT OF 1978.— 
(1) SECRETARY.—The Secretary of the Treas-
ury shall be treated as the designated agency ethics 
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official (as defined in section 109(3) of the Ethics 
in Government Act of 1978) for purposes of— 
(A) taking any action under section 104 of 
the Ethics in Government Act of 1978 with re-
spect to any person who fails to file a report 
under this section or who files a false report; 
(B) acting as custodian of, and providing 
public access to, reports filed under this section 
in accordance with section 105 of such Act; and 
(C) reviewing such reports under section 
106 of such Act. 
(2) CHIEF
EXECUTIVE
OFFICER.—Each chief 
executive officer of a financial institution who is re-
quired to submit a report under this section with the 
Secretary of the Treasury shall be treated as an in-
dividual described in 101(b)(1) of the Ethics in Gov-
ernment Act of 1978 who is required to file a report 
under section 102 of such Act for purposes of title 
I of such Act. 
(c) TERMINATION
AND REPAYMENT
OF ASSIST-
ANCE.—In addition to any action under section 104 of the 
Ethics in Government Act of 1978 against any individual 
who fails to comply with the reporting requirement of sub-
section (a), the Secretary of the Treasury may take such 
action as may be appropriate to terminate and require the 
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repayment of the assistance provided to any financial in-
stitution which gave rise to such reporting requirement 
under this section with respect to any senior executive offi-
cer of such institution, and the Board of Governors of the 
Federal Reserve System or the Federal Deposit Insurance 
Corporation shall promptly carry out any such determina-
tion of the Secretary with respect to any assistance pro-
vided by such Board or Corporation to such financial insti-
tution. 
(d) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
(1) CHIEF
EXECUTIVE
OFFICER.—The term 
‘‘chief executive officer’’ includes the chairperson of 
the board of directors of any financial institution, if 
such position or person is different than the chief 
executive officer of the institution. 
(2) DISCLOSURE DUE DATE.—The term ‘‘dis-
closure due date’’ means the latest of— 
(A) the end of the 30-day period beginning 
on the date of the enactment of this Act; 
(B) the end of the 30-day period beginning 
on the date any financial institution receives as-
sistance under title I of the Emergency Eco-
nomic Stabilization Act of 2008, under the 3d 
undesignated paragraph of section 13 of the 
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Federal Reserve Act, or from the Secretary of 
the Treasury or the Federal Deposit Insurance 
Corporation under any other provision of law 
that, 
in 
the 
aggregate 
first 
exceeds 
$30,000,000,000; or 
(C) the end of the 30-day period beginning 
when the individual becomes the chief executive 
officer of any such financial institution. 
(3) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ has the same meaning as in sec-
tion 3(5) of the Emergency Economic Stabilization 
Act of 2008 and includes any person receiving as-
sistance under the 3d undesignated paragraph of 
section 13 of the Federal Reserve Act. 
Æ 
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