summary
Introduced
04/06/2023
04/06/2023
In Committee
04/06/2023
04/06/2023
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, and for other purposes.
AI Summary
This bill, the CFPB Whistleblower Incentives and Protection Act, amends the Consumer Financial Protection Act of 2010 to establish a whistleblower program at the Consumer Financial Protection Bureau (CFPB). The key provisions of the bill include: (1) defining a "whistleblower" as an individual or individuals who provide original information about violations of federal consumer financial laws, (2) requiring the CFPB to pay awards of at least 10% or $50,000, up to 30%, of any monetary sanctions collected in an administrative or court action to whistleblowers whose information led to successful enforcement, (3) protecting the confidentiality of whistleblowers' identities, and (4) allowing the CFPB to issue rules to implement the whistleblower program. The bill also amends the CFPB's existing civil penalty fund to allow for payments of these whistleblower awards.
Committee Categories
Business and Industry
Sponsors (6)
Tom Emmer (R)*,
Byron Donalds (R),
Blaine Luetkemeyer (R),
Dan Meuser (R),
Bill Posey (R),
William Timmons (R),
Last Action
Referred to the House Committee on Financial Services. (on 04/06/2023)
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/house-bill/2490/all-info |
| BillText | https://www.congress.gov/118/bills/hr2490/BILLS-118hr2490ih.pdf |
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