The Hold Corporate Criminals Accountable Act of 2024 strengthens oversight of corporate settlements and deferred prosecution agreements in federal cases. The bill requires courts to determine that such agreements are in the public interest before approving them for corporations, and courts must consider factors including financial penalties, monitoring compliance, victim impact, and whether the company cooperates in identifying guilty employees. The legislation also mandates that federal agencies publicly post settlement agreements worth $1 million or more on their websites for at least 5 years, including details about penalties, amounts owed, and settlement terms, with agencies required to submit annual reports to Congress about these agreements. Additionally, the bill extends the statute of limitations for prosecuting financial institutions from five years to ten years and requires corporate defendants seeking reduced sentences to help the government investigate individual employees involved in wrongdoing. The transparency and reporting requirements take effect immediately upon enactment, while the Attorney General must publish a compliance monitoring report within one year.
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