CFPB Whistleblower Incentives and Protection Act
Summary
CFPB Whistleblower Incentives and Protection Act This bill requires the Consumer Financial Protection Bureau to provide awards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions exceeding $1 million. Specifically, the bureau must award compensation to whistleblowers (1) not less than the greater of 10% of the collected monetary sanctions, or $50,000; and (2) not more than 30% of the collected monetary sanctions. The compensation to any single whistleblower is capped at $5 million. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.
Bill status
in committee
1 of 4 stages cleared
Introduction
Oct 2021
Committee Review
Floor Vote
President
Introduced Oct 25, 2021
Last action Oct 25, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Oct 25, 2021
Committee
Referred to the House Committee on Financial Services.
lower
Oct 25, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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