S. 2775
Referred to CommitteeFinancial Compensation for CFPB Whistleblowers Act
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
9/21/2021 • Senate
Summary
Financial Compensation for CFPB Whistleblowers Act
This bill requires the Consumer Financial Protection Bureau to provide rewards 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 for 10%-30% of the collected penalties. In cases where the bureau collects less than $1 million in penalties, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.
Introduced in Senate • 9/21/2021
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Sponsor & Cosponsors (7)
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Cosponsors (6)
Bill Journey
Originated in the Senate
Introduced
September 21, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (4)
H.R. 5714
CFPB Whistleblower Incentives and Protection Act
S. 1124
Financial Compensation for CFPB Whistleblowers Act
H.R. 5484
Financial Compensation for CFPB Whistleblowers Act
S. 3975
Financial Compensation for CFPB Whistleblowers Act