To prohibit Members of Congress from conducting certain financial transactions involving a foreign adversary of the United States, and for other purposes.
About This Bill
Committee
Latest Action · August 23, 2024
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill prohibits Members of Congress from engaging in financial transactions that benefit foreign adversaries or entities owned by those countries during their term of service. The targeted foreign adversaries are China, Cuba, Iran, North Korea, Russia, and Venezuela under the Maduro regime. Prohibited transactions include gifts, loans, investments in securities and commodities, and derivative investments that would directly or indirectly benefit these adversaries or their controlled entities. The Attorney General can enforce the ban through civil lawsuits, with penalties ranging from five thousand dollars for a first violation to fifteen thousand dollars for each subsequent violation after a second offense. The bill applies to all Members of Congress, including Senators, Representatives, Delegates, and Resident Commissioners.
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