Bill > S2680

This bill, known as the Law Enforcement Tools to Interdict Troubling Investments in Abodes (LETITIA) Act, aims to establish significantly enhanced criminal penalties for public officials who commit financial crimes such as bank fraud, loan application falsification, and tax filing fraud. The bill increases potential fines and mandatory minimum prison sentences for public officials, with escalating penalties for repeat offenses: for a first or second offense, a public official could face up to $1.5 million in fines and 1-35 years in prison, while third or subsequent offenses could result in up to $2 million in fines and 5-40 years in prison. The bill defines a "public official" broadly to include elected and appointed representatives at federal, state, and local levels, and requires the Department of Justice and Department of the Treasury to issue directives within 90 days of enactment to guide law enforcement on investigating and prosecuting such crimes. The underlying rationale, as stated in the bill's findings, is that public officials who abuse their positions of trust by committing financial crimes should face harsher punishment than ordinary citizens, reflecting the belief that such actions represent a fundamental betrayal of public service and undermining of governmental integrity.

Justice

https://www.congress.gov/bill/119th-congress/senate-bill/2680/all-info