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Harsher Penalties for Financial Fraud by Public Officials

The new LETITIA Act significantly increases prison sentences and fines for public officials who commit bank, mortgage, credit, or tax fraud. This aims to enhance accountability for those in public service and rebuild public trust in government. Citizens can expect public officials to be held to a higher standard for financial crimes.
Key points
Public officials convicted of bank or credit fraud will face higher fines (up to $2 million) and longer prison sentences (up to 40 years), with mandatory minimums.
For falsifying tax filings, public officials will also receive increased fines (up to $200,000) and longer prison terms (up to 10 years), with mandatory minimums.
The Act directs the Department of Justice and the Department of the Treasury to issue guidelines for more effective prosecution of public officials for these offenses.
article Official text account_balance Process page
Introduced
Citizen Poll
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Additional Information
Print number: 119_S_2680
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2025-08-02
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LETITIA Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2680.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-08-02.

What are the main provisions?

Key points include:

  • Public officials convicted of bank or credit fraud will face higher fines (up to $2 million) and longer prison sentences (up to 40 years), with mandatory minimums.
  • For falsifying tax filings, public officials will also receive increased fines (up to $200,000) and longer prison terms (up to 10 years), with mandatory minimums.
  • The Act directs the Department of Justice and the Department of the Treasury to issue guidelines for more effective prosecution of public officials for these offenses.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cornyn, John [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

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