Bill Overview
Title: Corporate Crime Database Act of 2022
Description: This bill requires the Bureau of Justice Statistics to establish a public database of enforcement actions taken by federal agencies against businesses for corporate offenses.
Sponsors: Sen. Durbin, Richard J. [D-IL]
Target Audience
Population: People who engage as consumers, investors, employees, or stakeholders in businesses regulated by federal agencies
Estimated Size: 250000000
- The database will cover all enforcement actions taken by federal agencies, which means it will include information on all businesses subject to such actions.
- This database will increase transparency for consumers, investors, and other stakeholders, enabling them to make more informed decisions.
- Employees of companies involved in corporate offenses may also be indirectly affected as the database might influence company practices, possibly leading to changes in employment practices or corporate governance.
- Federal agencies will need to adapt to provide consistent and complete data to the new database on a continuing basis.
- Researchers, journalists, and advocacy groups will have access to a new resource for analyzing corporate behavior and regulatory effectiveness.
Reasoning
- The policy targets a broad population including consumers, investors, employees of companies, and researchers who might use the database. Its effects may be more direct on people who are engaged directly with corporate governance or investment decisions and indirect on the general consumer population.
- Budget constraints imply limitations in initial outreach and integration capabilities in federal agencies, possibly affecting how quickly the database ramps up utility.
- Primary impact is expected through increased transparency, potentially impacting public trust, corporate compliance, and investment decisions over time. Immediate effects may be low to medium as the database gains meaningful content and becomes widely used.
Simulated Interviews
Financial Analyst (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I believe this policy will improve transparency in corporate actions, which is crucial for making informed investment decisions.
- It might take a while for it to become fully functional and for the data to be comprehensive.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Small Business Owner (Chicago, IL)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 15/20
Statement of Opinion:
- While I support transparency, I'm not sure this database will affect my business operations directly.
- It might add more scrutiny to larger corporations but probably won't impact small businesses like mine significantly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Software Developer (San Francisco, CA)
Age: 29 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- This policy could pressure companies to maintain higher ethical standards, which is important for employee morale and attracting talent.
- I hope it increases accountability significantly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 7 |
Corporate Lawyer (Houston, TX)
Age: 54 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- This database will probably become a major reference point in corporate compliance strategy.
- Our workload may increase initially as firms adjust to the scrutiny.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Journalist (Atlanta, GA)
Age: 38 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- This database is an excellent tool for investigative journalism, providing concrete data on corporate compliance and enforcement actions.
- It will likely become a central resource for many stories.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
Graduate Student (Phoenix, AZ)
Age: 24 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 18/20
Statement of Opinion:
- As a student researching business ethics, this database will provide valuable data for case studies and analysis.
- I’m excited to see its potential for influencing corporate behavior.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Retired (Los Angeles, CA)
Age: 62 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 13/20
Statement of Opinion:
- This policy sounds useful for investors like myself who follow corporate news closely to make informed decisions.
- However, I’m skeptical about how quickly it will be impactful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Environmental Activist (Seattle, WA)
Age: 40 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- This database will be a vital tool for holding polluting companies accountable and advocating for stricter regulations.
- I hope it leads to more corporate responsibility in environmental matters.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Consumer Rights Advocate (Dallas, TX)
Age: 51 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 9/20
Statement of Opinion:
- A public database like this will empower consumers by improving access to important corporate behavior data.
- It’s a positive step towards greater accountability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Investor (Boston, MA)
Age: 29 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- The database is a critical resource for ESG investors, ensuring companies uphold standards in governance and ethics.
- I expect this policy to make a real difference in boosting investor confidence.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $20000000 (Low: $15000000, High: $25000000)
Year 2: $15000000 (Low: $10000000, High: $20000000)
Year 3: $15000000 (Low: $10000000, High: $20000000)
Year 5: $15000000 (Low: $10000000, High: $20000000)
Year 10: $15000000 (Low: $10000000, High: $20000000)
Year 100: $15000000 (Low: $10000000, High: $20000000)
Key Considerations
- The implementation and operational costs of the database are contingent on technology choices and data management strategies.
- Long-term savings might occur if increased transparency results in better regulatory compliance by businesses.
- Inter-agency collaboration will be important for consistent data submission.