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Congressional Record—Senate S7587

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Congressional Record—Senate S7587 December 17, 2020 CONGRESSIONAL RECORD — SENATE S7587 year of celebration possible. On behalf an ongoing basis, that is effectively it has elevated and celebrated African- of the Senate, I share our congratula- offset by BSA penalties imposed in American voices while telling stories tions with every Lynnville family on these cases. Such funding will enable from their perspective. Today, Urban its 200 years of proud Kentucky his- the Secretary to provide, subject to One employs more than 1,500 people tory. available funds, substantial whistle- and reaches an estimated 82 percent of f blower awards based upon monetary African-Americans nationwide. penalties recovered in those whistle- This remarkable success is attrib- ANTI-MONEY LAUNDERING ACT OF blower cases. utable to the skillful and passionate 2020 It was always the intent of the con- leadership of Cathy Hughes. Not long Mr. CRAPO. Mr. President, before ferees that these awards to individual after Cathy started her radio career in joining with my colleagues in an im- whistleblowers are important and jus- her hometown of Omaha, NE, she found portant colloquy, concerning the Anti- tified and that they be substantial, herself lecturing at Howard Univer- Money Laundering Act of 2020, I want such that both a minimum and max- sity’s school of communications and to applaud Senator GRASSLEY’s tireless imum percentage of such monetary serving as general sales manager at the efforts that spanned years of bipartisan sanction was contemplated. In this university’s iconic radio station, work to establish the first whistle- case, it is the intent of the conferees, WHUR. Cathy started Radio One in 1980 blower reward program at the Depart- in addition to the conference report with the purchase of her flagship sta- ment of the Treasury’s Financial providing for the stated maximum 30 tion WOL–AM in Washington, DC, and Crimes Enforcement Network. percent award, to provide for a 10 served as its morning show host for 11 Mr. GRASSLEY. Mr. President, I would prcent minimum award, as both rea- years. As founder and chairwoman, like to thank Chairman CRAPO and sonable and sensible. Cathy has directed the successful ex- Ranking Member BROWN for their work Finally, it is the intent of the con- pansion of Radio One into new radio on the Anti-Money Laundering Act of ferees that no such award should be markets nationwide while generating 2020 division contained in this year’s made available to either employees of original content across the spectrum of NDAA conference report, including the the Treasury Department, the Depart- radio, television, and digital media. I important new whistleblower protec- ment of Justice, or covered law en- am proud to note that Baltimore was tions provided in the measure. These forcement agencies, if the original in- the first city into which Radio One ex- whistleblower protections that all formation that led to the successful en- panded. three of us agreed upon, were modelled forcement action is acquired acting in Urban One’s remarkable 40 years of after successful programs that were the normal course of their job duties. growth are all the more impressive created through the Dodd Frank Act We will work with Senator GRASSLEY given the obstacles that Cathy has for the Securities and Exchange Com- and with administration officials to overcome, not least the racism and mission and the Commodity’s and Ex- provide for robust minimum awards sexism she has encountered during her change Commission. One key feature which meet the 10 percent threshold groundbreaking career. In her initial that makes these programs successful wherever appropriate. We will work search for financing to buy the station is that whistleblowers are guaranteed a with the Senator in the next Congress that would become Radio One, 32 banks minimum of 10 percent in awards for to draft legislation that addresses the rejected Cathy’s bid. qualifying disclosures. These rewards important concerns he has raised. Cathy has steered her company suc- cost taxpayers nothing because they Does Senator BROWN agree? cessfully through the changes and chal- are paid from fines and other monies Mr. BROWN. I agree and agree to lenges in media markets over the collected as a result of the whistle- work with Chairman CRAPO and with years, most recently navigating the blower’s disclosures. To ensure whistle- his successor as Banking Committee impact of COVID–19. While Radio One blowers always receive the money chairman, with Senator GRASSLEY, and itself has been hurt by the pandemic, owed, both the SEC and CFTC, as well with appropriate administration offi- she chose to support her community by our original amendment to the NDAA, cials consistent with that intent. I providing free advertising to Black- created a special fund that would be share the desire to ensure that ade- owned businesses. filled by the fines collected and then quate funds are provided and agree Cathy’s philanthropic work rivals her used to pay whistleblower awards. With that the best way to do so is through exceptional business achievements. Of that, I will be happy to begin the col- the creation of a fund that is to be used note is her passion for education, dem- loquy. exclusively for the payment of whistle- onstrated by her strong support of the Chairman CRAPO, can you please de- blower awards. Such a fund should also Piney Woods School in Piney Woods, scribe your intent with respect to provide for awards of at least 10 per- MS. This school, which her grandfather changes made in the whistleblower pro- cent of the funds in cases covered by established in 1909, currently serves as visions in the conference agreement? the bill. I will work with Senator the largest of four African-American Mr. CRAPO. Certainly. The NDAA GRASSLEY to make clear that this is boarding schools in the county. Cathy conference agreement provides for our intent to administration officials. has been recognized for extraordinary whistleblower rewards with a 30 per- Mr. GRASSLEY. I thank both for contributions many times over the cent maximum of certain monies col- these clarifications of their intent. I years: National Association of Broad- lected in cases involving Bank Secrecy look forward to working with them to- casters Hall of Fame in 2019, the Act violations, but provides for no ex- ward these ends. Woman of the Year Award by 100 Black plicit minimum award requirement. f Men of America in 2018, the Ida B. The conferees agreed that updating Wells Living Legacy Award in 2011, and the Bank Secrecy Act’s whistleblower ADDITIONAL STATEMENTS the Essence Women Shaping the World incentives and protections was nec- Award in 2018. In 2019, Howard Univer- essary to protect individuals who pro- sity named its school of communica- vide original information which leads TRIBUTE TO CATHY HUGHES AND RECOGNIZING THE 40TH ANNI- tions after her. to any successful judicial or adminis- I ask the Senate to join me in recog- VERSARY OF URBAN ONE trative Bank Secrecy Act action nizing the extraordinary career of an brought by the Secretary of the Treas- ∑ Mr. CARDIN. Mr. President, I rise extraordinary woman, Cathy Hughes, ury or Attorney General and results in today to ask the Senate to join me in on the 40th anniversary of Urban One.∑ monetary sanctions exceeding recognizing my constituent and friend f $1,000,000. Cathy Hughes on the 40th anniversary To accomplish this and to avoid any of Urban One, Inc., formerly known as TRIBUTE TO EMILE OESTRIECHER direct spending complications, our in- Radio One. Urban One, headquartered ∑ Mr. CASSIDY. Mr. President, Mr. tention is to authorize necessary re- in Montgomery County, MD, is Amer- Emile Oestriecher, known in the Scout- sources and work with appropriators ica’s largest broadcast company pri- ing community as ‘‘Mr. O,’’ has served and the administration to ensure that marily focused on African-American the community of Alexandria as Boy necessary funding be made available on consumers. Over the last four decades, Scout scoutmaster for almost 50 years. 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