H.R. 2648: Truth in Settlements Act of 2015

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H.R. 2648: Truth in Settlements Act of 2015

114th Congress · introduced 2015-06-04 · Government Operations and Politics · Latest: Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, 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.

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Official title

Truth in Settlements Act of 2015

Plain summary

Truth in Settlements Act of 2015 Sets forth new requirements for the public disclosure of any covered settlement agreement entered into by a federal executive agency. Defines "covered settlement agreement" as a settlement agreement (including a consent decree) that: (1) is entered into by an executive agency, (2) relates to an alleged violation of federal civil or criminal law, and (3) requires the payment of not less than $1 million by one or more non-federal persons (entities not within the federal government). Requires the head of each executive agency to make publicly available on the agency website a list of each covered settlement agreement entered into by the agency, which shall include: (1) the names of the parties to the settlement agreement and the date of such agreement; (2) a description of the claims that were settled under the agreement; (3) the amount each party to the agreement is obligated to pay under the terms of the agreement and the total amounts required to be paid; and (4) for each settling party, the amount the settling party is obligated to pay that has been expressly specified as a civil penalty or fine and as not deductible for tax purposes. Requires: (1) such information to remain publicly available for not less than 5 years, beginning on the date of the agreement; and (2) a copy of a covered settlement agreement to remain publicly available for a period of not less than 1 year, beginning on the date of the agreement, or for not less than 5 years for an agreement under which a non-federal person is required to pay not less than $50 million. Limits the disclosure of provisions of a covered settlement agreement that are subject to a confidentiality agreement. Requires the issuer of securities subject to reporting requirements under the Securities Exchange Act of 1934 to describe in required reports any claim of a tax deduction relating to a payment under a covered settlement agreement.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

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Officials and money

Sponsor: Rep. Cartwright, Matt [D-PA-17] · 10 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Frank Pallone, Jr. (D-NJ), Tom Cole (R-OK), Cynthia M. Lummis (R-WY), Jerrold Nadler (D-NY), Marcy Kaptur (D-OH), Kevin Cramer (R-ND)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

• Congressional Research Service summary (Introduced in House)
• Congress.gov
• Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr2648.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr2648 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114