Original Securities and Exchange Atonement Act of 2024

HR 8933 requires large public companies (with over 100 employees or $300 million+ in capital) to conduct racial equity audits every two years. These audits must assess company policies on diversity and disclose any historical ties to or profits from slavery, with findings reported publicly. Companies failing to comply face daily fines ($20,000/day), with 50% of fines funding Treasury's minority programs and 50% supporting HUD housing initiatives for low-income minority communities. The bill mandates transparency on historical inequities while directing penalties toward targeted community investments.