BANKS, CASSIDY INTRODUCE INVESTIGATION STATUS AND GOVERNANCE FOR HONEST TRANSPARENCY (INSIGHT) ACT

WASHINGTON, April 21 -- Sen. Jim Banks issued the following press release:

Today, Senators Jim Banks (R-Ind.) and Bill Cassidy (R-La.) introduced the Investigation Status and Governance for Honest Transparency (INSIGHT Act). The bill requires the Employee Benefits Security Administration (EBSA) to report annually to Congress on enforcement investigations and certain agreements with plaintiff attorneys, including timelines, delays, and notice to affected plan sponsors, while excluding identifying information. This legislation also requires EBSA to notify employee benefit plan sponsors and Congress when the Department of Labor provides adverse assistance to plaintiff attorneys. Senators Tim Scott (R-S.C.) and Tommy Tuberville (R-Ala.) are co...