Warren Wants CEOs Held Criminally Liable for Bailout Violations

Senator Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.

Executives should be subject “to civil and criminal penalties, including disgorgement, if they provide fraudulent or misleading information or misuse funds, and should be required to immediately repurchase their bonds for the full amount when eligibility criteria are breached,” Warren said in a letter to central bank officials.

Elizabeth Warren arrives at the U.S. Capitol for a vote on May 18.

Photographer: Chip Somodevilla/Getty Images

Warren is likely to raise the issue when Fed Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin ...