summary
Introduced
09/21/2021
09/21/2021
In Committee
09/21/2021
09/21/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Consumer Financial Protection Act of 2010 to provide for whistleblower incentives and protection.
AI Summary
This bill, the Financial Compensation for CFPB Whistleblowers Act, amends the Consumer Financial Protection Act of 2010 to provide incentives and protection for whistleblowers who report violations of federal consumer financial law to the Consumer Financial Protection Bureau (CFPB). The key provisions include: establishing a whistleblower award program that pays between 10-30% of the civil money penalties collected by the CFPB in successful enforcement actions; prohibiting the CFPB from disclosing the identity of a whistleblower; and preventing the enforceability of certain agreements that would waive the whistleblower's rights and remedies under the Act. The bill aims to encourage individuals to report information about violations to the CFPB in order to strengthen the agency's enforcement efforts.
Committee Categories
Housing and Urban Affairs
Sponsors (7)
Catherine Cortez Masto (D)*,
Richard Blumenthal (D),
Sherrod Brown (D),
Dick Durbin (D),
Jeff Merkley (D),
Tina Smith (D),
Elizabeth Warren (D),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 09/21/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/2775/all-info | 09/22/2021 |
| BillText | https://www.congress.gov/117/bills/s2775/BILLS-117s2775is.pdf | 09/29/2021 |
| Bill | https://www.congress.gov/117/bills/s2775/BILLS-117s2775is.pdf.pdf | 09/29/2021 |
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