Stop Wall Street Looting Act
The source supplies the latest action, but no lifecycle stage.
Latest action (24 Sep 2026): Read twice and referred to the Committee on Finance.
What this bill does
The bill, S. 5512, titled "A bill to subject certain private funds to joint and several liability with respect to the liabilities of firms acquired and controlled by those funds, and for other purposes," has been introduced by Senator Elizabeth Warren. The stated purpose of this bill is to create a form of shared legal responsibility, known as joint and several liability, for certain private investment funds. This liability would apply to the debts and obligations of companies that these funds have acquired and now control.
This legislation would affect private funds that acquire and control other firms. It aims to make these funds legally accountable for the liabilities of the businesses they own and manage. The specific types of private funds and the circumstances under which this liability would apply are not detailed in the information provided, as the full text of the bill has not yet been published.
S. 5512 is in its initial stage of the legislative process, having been introduced in the Senate on September 24, 2026. As an introduced bill, it has not yet been considered by any committees or voted on by either chamber of Congress. For the bill to become law, it would need to pass both the Senate and the House of Representatives and be signed by the President.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
24 Sep 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5512 do?
- The bill, S. 5512, titled "A bill to subject certain private funds to joint and several liability with respect to the liabilities of firms acquired and controlled by those funds, and for other purposes," has been introduced by Senator Elizabeth Warren. The stated purpose of this bill is to create a form of shared legal responsibility, known as joint and several liability, for certain private investment funds. This liability would apply to the debts and obligations of companies that these funds have acquired and now control. This legislation would affect private funds that acquire and control other firms. It aims to make these funds legally accountable for the liabilities of the businesses they own and manage. The specific types of private funds and the circumstances under which this liability would apply are not detailed in the information provided, as the full text of the bill has not yet been published. S. 5512 is in its initial stage of the legislative process, having been introduced in the Senate on September 24, 2026. As an introduced bill, it has not yet been considered by any committees or voted on by either chamber of Congress. For the bill to become law, it would need to pass both the Senate and the House of Representatives and be signed by the President.
- Has S. 5512 become law?
- The source does not supply a confirmed lifecycle stage for S. 5512. Check the latest action and official source below.
- Who sponsored S. 5512?
- S. 5512 was sponsored by Sen. Warren, Elizabeth [D-MA] (D-MA), with 6 cosponsors.
- What's the latest action on S. 5512?
- Read twice and referred to the Committee on Finance. (24 Sep 2026).
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