,,ii  #aah? ,,congress  #a/ ,session    
,s4 #aijj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #h1 #bjbc,mr4    
,k5n$y 7= himself & ,ms4 ,lummis7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to require ,f$]al f9ancial     
regulators to create a publicly         
available database = c]ta9 bad actors1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,track+ ,bad       
,actors ,act ( #bjbc4  #b4 ,def9ition ,9
 ?is ,act1 ! t]m ,f$]al f9ancial        
regulator means-- 7#a7 ! ,commodity     
,futures ,trad+ ,commission2  7#b7 !    
,securities & ,ex*ange ,commission2     
7#c7 ! ,(fice ( ! ,comptroll] ( !       
,curr5cy2  7#d7 ! ,f$]al ,deposit       
,insurance ,corporation2  7#e7 !        
,f9ancial ,indu/ry ,regulatory ,ag5cy2 &
  7#f7 ! ,public ,company ,acc\nt+      
,ov]sight ,bo>d4  #c4 ,database  7a7 ,9 
g5]al ,n lat] ?an #c ye>s aft] ! date ( 
enactm5t ( ?is ,act1 ! ,f$]al f9ancial  

regulators %all jo9tly e/abli% a        
publicly available database ( p]sons    
convict$ or held liable 9 crim9al1      
civil1 & adm9i/rative actions relat+ to 
f9ancial s]vices br\ght by-- 7#a7 any   
,f$]al f9ancial regulator1 to ! greate/ 
ext5t practicable2  7#b7 ! ,dep>tm5t (  
,ju/ice2  7#c7 any self-regulatory      
organization or simil> entity ov]se5 by 
a ,f$]al f9ancial regulator if requir$  
by su* regulator2 or  7#d7 any ,/ate or 
local crim9al or regulatory ag5cy t     
volunt>ily submits in=mation to !       
database4  7b7 ,ov]sight ,! ,securities 
& ,ex*ange ,commission %all be ! lead   
ag5cy responsible = ov]sight ( !        
database e/abli%$ "u subsection 7a74    
7c7 ,free access ,! in=mation 9 !       
database e/abli%$ "u subsection 7a7 %all
 be free ( *>ge to ! public4  7d7       
,op]ation ,! database e/abli%$ "u       
subsection 7a7 %all be op]at$ by a      
,f$]al ag5cy or ma9ta9$ by a ?ird p>ty4 
7e7 ,expungem5t ,any ag5cy :o submits   
in=mation to ! database "u subsection   

7a7 %all expunge any en=cem5t action    
br\ght by ! ag5cy if ! action is-- 7#a7 
ov]turn$ ^u judicial review2 or  7#b7   
)drawn by ! ag5cy4  7f7 ,reports  7#a7  
,f$]al f9ancial regulators ,! ,f$]al    
f9ancial regulators %all jo9tly submit  
to ,congress an annual report on !      
database dur+ ! p]iod beg9n+ on ! date (
 enactm5t ( ?is ,act & end+ on ! date on
 :i* ! database is op]ational4  7#b7    
,,gao report ,n lat] ?an #e ye>s aft] ! 
date on :i* ! database is op]ational1 ! 
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all submit to ,congress a report on !  
database4