“For far too long, CEOs of giant corporations that break the law have been able to walk away, while consumers who are harmed are left picking up the pieces,” Warren wrote in a press release introducing the legislation.
Under the bill, dubbed the Corporate Executive Accountability Act, leaders of companies can be punished with up to a year in jail if certain conditions are met. Specifically, the bill would open up the possibility of criminal prosecution for execs if their corporation’s annual revenue exceeds $1 billion and if their company commits crimes, repeatedly breaks the law, or is found liable for certain violations affecting “the health, safety, finances or personal data of 1% of the U.S. population or 1% of the population of any state.”
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