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Financial Compensation for CFPB Whistleblowers Act

USA116th CongressS-3975| Senate 
| Updated: 7/29/2020
Catherine Cortez Masto

Catherine Cortez Masto

Democratic Senator

Nevada

Cosponsors (7)
Richard J. Durbin (Democratic)Elizabeth Warren (Democratic)Tina Smith (Democratic)Sherrod Brown (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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 monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, 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.
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Timeline
Jun 17, 2020
Introduced in Senate
Jun 17, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2020

Latest Companion Bill Action

HR 116-7793
Introduced in House
Jul 29, 2020
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.
  • June 17, 2020
    Introduced in Senate


  • June 17, 2020
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • July 27, 2020

    Latest Companion Bill Action

    HR 116-7793
    Introduced in House


  • July 29, 2020
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.

Finance and Financial Sector

Related Bills

  • HR 116-7793: Financial Compensation for CFPB Whistleblowers Act
Administrative remediesCivil actions and liabilityCongressional oversightConsumer affairsConsumer creditConsumer Financial Protection BureauEmployment discrimination and employee rightsFraud offenses and financial crimesGovernment information and archivesJudicial review and appealsLawyers and legal servicesRight of privacy

Financial Compensation for CFPB Whistleblowers Act

USA116th CongressS-3975| Senate 
| Updated: 7/29/2020
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 monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 17, 2020
Introduced in Senate
Jun 17, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2020

Latest Companion Bill Action

HR 116-7793
Introduced in House
Jul 29, 2020
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.
  • June 17, 2020
    Introduced in Senate


  • June 17, 2020
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • July 27, 2020

    Latest Companion Bill Action

    HR 116-7793
    Introduced in House


  • July 29, 2020
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.
Catherine Cortez Masto

Catherine Cortez Masto

Democratic Senator

Nevada

Cosponsors (7)
Richard J. Durbin (Democratic)Elizabeth Warren (Democratic)Tina Smith (Democratic)Sherrod Brown (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 116-7793: Financial Compensation for CFPB Whistleblowers Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative remediesCivil actions and liabilityCongressional oversightConsumer affairsConsumer creditConsumer Financial Protection BureauEmployment discrimination and employee rightsFraud offenses and financial crimesGovernment information and archivesJudicial review and appealsLawyers and legal servicesRight of privacy