#MEMEAct The "Modern Emoluments and Malfeasance Enforcement Act" or "MEME Act" (H.R.1712) aims to amend Title 5 of the U.S. Code concerning prohibited financial transactions for federal elected officials. This bill seeks to prevent public officeholders and adjacent individuals from engaging in or benefiting from prohibited financial transactions during their service. It also targets actions intended to encourage the sale of covered assets, including promotion and endorsement. Violators could face civil penalties up to $250,000 and be required to disgorge any profits from such transactions, with retroactive application. The Act reflects a sense of Congress that public officials should not use their positions for private financial gain.