NY A08285

Establishes the Freedman's Asset Recovery Agency within the executive department to help descendants of Transatlantic Slave victims recover assets lost, stolen, or sold under duress between 1865 and 1874

References the historical collapse of the Freedman's Savings Bank in 1874, where over 60,000 depositors lost nearly $3 million in savings, with only $1.7 million repaid—estimated to be worth over $70 million today

Defines recoverable assets broadly to include money, artwork, bank accounts, insurance policy benefits, and other items of value

Agency responsibilities include advocating for claimants, serving as a bridge to international compensation organizations and current asset holders, and providing institutional assistance to reduce costs and bureaucratic burdens

Agency must provide all services free of charge and cannot collect any percentage of recovered asset values