summary
Introduced
03/30/2023
03/30/2023
In Committee
03/30/2023
03/30/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th 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 amends the Consumer Financial Protection Act of 2010 to provide whistleblower incentives and protection. It establishes a whistleblower program that allows the Consumer Financial Protection Bureau (CFPB) to pay awards to individuals who voluntarily provide original information that leads to successful enforcement actions resulting in over $1 million in civil money penalties. The awards can range from 10% to 30% of the penalties collected. The bill also prohibits the waiver of whistleblower rights and remedies, and generally prohibits the use of predispute arbitration agreements for disputes arising under this provision. The bill also allows the CFPB to use the Consumer Financial Civil Penalty Fund to pay the whistleblower awards.
Committee Categories
Housing and Urban Affairs
Sponsors (9)
Catherine Cortez Masto (D)*,
Richard Blumenthal (D),
Sherrod Brown (D),
Dick Durbin (D),
John Fetterman (D),
Jeff Merkley (D),
Bernie Sanders (I),
Tina Smith (D),
Elizabeth Warren (D),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/30/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1124/all-info |
| BillText | https://www.congress.gov/118/bills/s1124/BILLS-118s1124is.pdf |
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