S.Amdt. 2053

SA 2053. Ms. STABENOW submitted an amendment intended to be proposed
by her to the bill S. 2155, to promote economic growth, provide
tailored regulatory relief, and enhance consumer protections, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. INCREASED CIVIL PENALTIES FOR CERTAIN FALSE
CERTIFICATIONS TO SECRETARY OF VETERANS AFFAIRS
REGARDING HOME LOANS TO BE GUARANTEED OR
INSURED BY DEPARTMENT OF VETERANS AFFAIRS.

(a) In General.--Subchapter III of chapter 37 of title 38,
United States Code, is amended by adding at the end the
following new section:

``Sec. 3737. Civil penalties for lenders making false
certifications regarding home loans

``(a) In General.--Notwithstanding section 3802 of title
31, any lender who knowingly and willfully makes a false
certification under section 36.4340(k)(2) of title 38, Code
of Federal Regulations, or successor regulation, shall be
liable to the United States Government for a civil penalty
equal to four times the amount of the Secretary's loss on the
loan involved or another appropriate amount, not to exceed
$50,000, whichever is greater.
``(b) Pattern or Practice.--(1) In any case in which a
lender described in paragraph (2) makes a false certification
under section 36.4340(k)(2) of title 38, Code of Federal
Regulations, or successor regulation, that is a part of a
pattern or practice of knowingly and willfully making false
certifications under such section that has had an effect on
500 or more veterans, the lender shall be liable to the
United States Government for a civil penalty equal to
$1,000,000 per veteran affected in addition to any amounts
the lender may be liable for under subsection (a).
``(2) A lender described in this paragraph is a lender
which has been identified as a global systematically
important BHC under section 217.402 of title 12, Code of
Federal Regulations, or successor regulation, or subject to a
determination under section 113 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (12 U.S.C. 5323).
``(c) Additional Remedies.--Any assessment under this
section may be in addition to other remedies available to the
Secretary.''.
(b) Clerical Amendment.--The table of sections at the
beginning of chapter 37 of such title is amended by inserting
after the item relating to section 3736 the following new
item:

``3737. Civil penalties for lenders making false certifications
regarding home loans.''.
______