Springfield Republican: Sen. Elizabeth Warren introduces bipartisan bill to increase transparency in reporting federal settlements
By: Robert Rizzuto
January 8, 2014
WASHINGTON - With the aim of increasing the transparency around settlements reached with companies found to be in violation of federal laws, U.S. Sen. Elizabeth Warren, D-Mass., has teamed up with U.S. Sen. Tom Coburn, an Oklahoma Republican, to push a new bill.
The Truth in Settlements Act, as introduced by the bipartisan duo on Wednesday, comes amid steady concern in Washington that companies which settle with the government amid investigations into wrongdoing often cut deals to avoid more significant penalties. The legislation would require the federal agencies they settle with to make public all the details of a settlement, not just the dollar figure of estimated value often touted in press releases announcing such settlements.