End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act

Sponsor: JOHN CONYERS (D-MI)

End Government Reimbursement of Excessive Executive Disbursements (End GREED) Act - (Sec. 2) Declares that Congress elects to use its constitutional authority to: (1) establish a uniform law on bankruptcy that applies to entities that have received extraordinary financial assistance from the United States on or after September 1, 2008; and (2) authorize the Attorney General, after consultation with the Secretary of the Treasury, to seek recovery of previous excessive payments of compensation made by the entities after receiving such assistance, and limit excessive payments of compensation to be made by them. (Sec. 3) Authorizes the Attorney General, after consultation with the Secretary of the Treasury, to review: (1) any employment contract made by an entity that received over $10 billion in specified federal financial assistance on or after September 1, 2008; and (2) any payment the entity made to an employee on or after such date. Authorizes the Attorney General to commence a civil action for fraudulent transfer in U.S. district court to avoid (and recover) any such payment (including a payment under an employment contract), if the entity received less than a reasonably equivalent value in exchange for the payment and it: (1) was insolvent on the payment date, not taking into account the federal assistance it received; or (2) was engaged (or was about to engage) in business or a transaction for which property remaining in the recipient entity was an unreasonably small capital.

Law Topic assigned by the Congressional Research Service.