Bill > HR5484

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: 1) Requiring the CFPB to pay awards of 10-30% of monetary sanctions collected in successful enforcement actions to whistleblowers who provide original information that leads to successful enforcement; 2) Establishing criteria for the CFPB to determine award amounts, including the significance of the information provided and the degree of assistance given by the whistleblower; 3) Prohibiting awards to certain individuals, such as those convicted of criminal violations or found liable for the conduct at issue; 4) Protecting the confidentiality of whistleblowers' identities; and 5) Prohibiting the waiver of whistleblower rights and remedies through employment agreements or pre-dispute arbitration clauses.