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Peter Welch
Bill would boost disclosures in corporate settlements with U.S.
Bill would boost disclosures in corporate settlements with U.S.

WASHINGTON — Concerned that targets of federal investigations are getting off lightly, two senators proposed legislation requiring the government to disclose all the details about settlements that allow companies to duck trials on allegations of wrongdoing. The bipartisan legislation, unveiled Wednesday by Sens. Elizabeth Warren (D-Mass.) and Tom Coburn (R-Okla.), reflects concern on Capitol Hill that big banks such as JPMorgan Chase & Co. and other companies involved in the subprime housing boom and financial crisis often settle to avoid potentially steeper penalties and court costs. Federal officials often tout the dollar amounts obtained in settlements, Warren and Coburn...

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