The purpose of the Modern Emoluments and Malfeasance Enforcement Act, also known as the MEME Act, is to prevent federal elected officials and certain high-ranking government employees from using their positions for personal financial gain. The Act aims to uphold public trust by ensuring that those in power do not exploit their roles for profit, which could lead to corruption and foreign influence. Key provisions of the Act include a clear definition of what constitutes a prohibited financial transaction.