What does Preamble of Recover COVID Unemployment Fraud in Banks Act do?

This bill addresses unclaimed pandemic-era unemployment compensation funds. The bill aims to recover funds held by financial institutions or escheated to state unclaimed property administrators. The bill includes provisions for other purposes, though these are not specified in this section.

What does SHORT TITLE. of Recover COVID Unemployment Fraud in Banks Act do?

This bill is formally titled the Recover COVID Unemployment Fraud in Banks Act

What does NATIONAL RECOVERY COORDINATOR AND TASK FORCE. of Recover COVID Unemployment Fraud in Banks Act do?

This section establishes a National Recovery Coordinator and a task force, named the "Recover Pandemic Unemployment Funds in Banks Task Force," to oversee and coordinate efforts to recover improperly distributed Federal pandemic unemployment compensation. The task force will include representatives from the Department of Justice, Department of Labor, Department of the Treasury, the Federal Deposit Insurance Corporation, and the Consumer Financial Protection Bureau. The task force's responsibilities include coordinating with State agencies to identify Federal pandemic unemployment compensation payments held by financial institutions or State agencies responsible for unclaimed property. The task force is directed to develop model processes and guidance for State agencies to review payments, determine improper payments, and recover funds, while complying with Federal and State laws. The guidance will include information for individuals whose identity was fraudulently used and legal pathways for recovery. The Secretary of Labor is responsible for reimbursing States for administrative costs incurred in coordinating with the task force. The section defines key terms such as 'Federal pandemic unemployment compensation,' 'improper payment,' 'State,' 'State agency,' and 'State law,' referencing the CARES Act and the Federal-State Extended Unemployment Compensation Act of 1970.

What does EXTENSION OF THE STATUTE OF LIMITATIONS FOR PANDEMIC of Recover COVID Unemployment Fraud in Banks Act do?

This section amends the CARES Act to extend the statute of limitations for criminal prosecution and civil enforcement actions related to unemployment fraud. The extension applies to violations involving Pandemic Unemployment Assistance, Federal Pandemic Unemployment Compensation, and Mixed Earner Unemployment Compensation, and Pandemic Emergency Unemployment Compensation. The statute of limitations for these actions is extended to 10 years after the date of the violation or conspiracy. However, this 10-year limit does not apply if the original statute of limitations had already expired before the enactment of the Recover COVID Unemployment Fraud in Banks Act.

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Recover COVID Unemployment Fraud in Banks Act

Last updated: 5/29/2026 · Introduced: 5/19/2026

Author: Beth Van Duyne (R-TX)

TL;DR (AI)

This bill establishes a National Recovery Coordinator and task force to coordinate efforts between federal agencies and states to recover improperly issued pandemic unemployment compensation funds held by financial institutions.
The bill extends the statute of limitations for prosecuting or enforcing civil actions related to pandemic unemployment fraud to 10 years from the date of the violation.
The Secretary of Labor must reimburse states for administrative costs incurred while coordinating with the task force to recover these funds.

119th Congressin committeeHR. 1156(Passed House)Official page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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