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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 October 2021

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• Introduced in House (PDF)

  Introduced in House · EN · 25 October 2021

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• Introduced in House

  summary · EN · 25 October 2021

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