Two Key Corporate Accountability Bills Introduced by Rep. Conyers

WASHINGTON, April 14, 2014 /PRNewswire-USNewswire/ -- The following is being released by the Center for Corporate Policy and Ralph Nader:

Yesterday, U.S. Rep. John Conyers (D-MI) introduced two important corporate accountability measures: (1) the Dangerous Products Warning Act, to require manufacturers to warn consumers and regulators if their products are dangerous or deadly; and (2) the Corporate Crime Database Act, to require the Justice Department to establish and update a database of criminal, civil or administrative proceedings against corporations, and to make it available to the public for free via the Internet.

Consumer advocate Ralph Nader said, "Corporate crime has long swept our nation, draining people's hard-earned savings and severely harming the health and safety of millions of people. The executive and corporate perpetrators of this crime wave, far more often than not, are getting away scot-free and sometimes promoted."  "Representative Conyers has championed corporate accountability for many years.  Consumers, workers and taxpayers should appreciate his steadfast leadership in reminding Congress of the need to hold corporations and their CEOs responsible, under adequate law enforcement, for corporate crimes and their violations."

The Dangerous Products Warning Act (H.R. 4451) would require companies to warn consumers, employees and the appropriate federal regulators of any product or service that poses a serious danger to the public. The legislation would create criminal liability for product supervisors who knew of serious dangers but failed to warn federal regulators or affected parties.  Under this legislation, such warnings must be made within fifteen days after such discovery is made, or immediately if there is an imminent risk of serious bodily injury or death.  It would also prohibit retaliation against whistleblowers who disclose product dangers to regulators.

The Corporate Crime Database Act (H.R. 4452) would require the Justice Department to establish a database containing administrative, civil and criminal proceedings against corporations or corporate officials initiated by the federal or state governments.  It would also require the Justice Department to prepare an annual report on the number of criminal, administrative and civil actions brought against corporations or corporate officials, as well as the ultimate disposition of those actions, including the size of any fines or other penalties.

On Wednesday, USA Today published an op-ed by Ralph Nader titled "Carnage is a Corporate Tradition" in support of the Dangerous Products Warning Act. In March, he also wrote an article for the Huffington Post titled "Getting Tough on Devastating Corporate Crime."

The Center for Corporate Policy recently released letters in support of the Dangerous Products Warning Act and the Corporate Crime Database Act (DPWA letter/CCDA letter). 

SOURCE Center for Corporate Policy