Financial Compensation for CFPB Whistleblowers Act

This bill establishes a formal reward program for whistleblowers who provide original information leading to successful enforcement actions by the Consumer Financial Protection Bureau (CFPB) against violations of federal consumer financial laws. Whistleblowers who report new, non-public details about violations (e.g., bank fraud or deceptive practices) may receive 10-30% of civil penalties collected in cases exceeding $1 million, with a minimum $50,000 award if penalties are below that threshold. The law includes strong confidentiality protections to prevent disclosure of whistleblower identities and excludes current employees of violators or those convicted of related crimes from receiving awards. It directly affects individuals who report consumer financial law violations, aiming to incentivize insider reporting while ensuring CFPB enforcement actions generate revenue for these rewards.