NEW:
The bill includes a provision that will "prohibit businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs,” per a letter from Schumer to Dems.
The bill includes a provision that will "prohibit businesses controlled by the President, Vice President, Members of Congress, and heads of Executive Departments from receiving loans or investments from Treasury programs,” per a letter from Schumer to Dems.
The bill bans stock buybacks for the term of the government assistance plus 1 year on any company receiving a government loan
The bill requires "real-time public reporting of Treasury transactions under the Act, including terms of loans, investments or other assistance to corporations."
Originally, it would have allowed Treasury to delay reporting information about loans to corporations for 6 months.
Originally, it would have allowed Treasury to delay reporting information about loans to corporations for 6 months.
