Bill > HR2465

This bill 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 requires the CFPB to pay 10-30% of the civil money penalties collected in administrative proceedings or court actions to whistleblowers who voluntarily provided original information leading to successful enforcement. If the CFPB collects less than $1 million, the whistleblower award will be at least $50,000. - Defining key terms like "administrative proceeding or court action," "monetary sanctions," and "original information." - Outlining criteria the CFPB must consider in determining the award percentage, and situations where an award would be denied (e.g., the whistleblower was involved in the misconduct). - Prohibiting the waiver of whistleblower rights and the enforcement of pre-dispute arbitration agreements related to whistleblower disputes, with an exception for collective bargaining agreements. - Allowing whistleblowers to appeal the CFPB's determinations, other than the award amount, to the appropriate court of appeals. - Requiring the CFPB to submit annual reports to Congress on the whistleblower award program.

Business and Industry

https://www.congress.gov/bill/118th-congress/house-bill/2465/all-info