Financial Compensation for CFPB Whistleblowers Act

HR 2465, the Financial Compensation for CFPB Whistleblowers Act, amends the Consumer Financial Protection Bureau's (CFPB) authority to create a formal reward program for whistleblowers. It requires the CFPB to pay whistleblowers who provide original information leading to successful enforcement actions (with monetary sanctions exceeding $1 million) an award equal to 10-30% of the penalties collected. The bill specifies that awards must be paid from the CFPB’s civil penalty fund, with a minimum $50,000 award if penalties are below $1 million. It also includes protections for whistleblowers, defines "original information," and outlines criteria for award amounts and eligibility, while prohibiting retaliation against whistleblowers.