3.0.0 3975 2023-01-11T13:46:14Z 2023-01-11T13:46:14Z Senate S 2020-06-17 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2020-07-29T15:52:53Z Referred to 2020-06-17T19:19:48Z Financial Compensation for CFPB Whistleblowers Act 116 7793 HR 2020-07-27 Referred to the House Committee on Financial Services. Related bill CRS 2020-07-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2020-06-17 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2020-06-17 Introduced in Senate IntroReferral 10000 9 Library of Congress C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV N B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2020-06-17 True W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2020-06-17 True S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2020-06-17 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2020-06-17 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2020-06-17 True W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2020-06-17 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2020-06-17 True Finance and Financial Sector Administrative remedies Civil actions and liability Congressional oversight Consumer Financial Protection Bureau Consumer affairs Consumer credit Employment discrimination and employee rights Fraud offenses and financial crimes Government information and archives Judicial review and appeals Lawyers and legal services Right of privacy Finance and Financial Sector 00 2020-06-17 Introduced in Senate 2020-09-24T19:22:57Z Financial Compensation for CFPB Whistleblowers Act

This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions exceeding $1 million. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.

]]> Financial Compensation for CFPB Whistleblowers Act Display Title Financial Compensation for CFPB Whistleblowers Act Short Title(s) as Introduced Financial Compensation for CFPB Whistleblowers Act Introduced in Senate IS Official Title as Introduced A bill to amend the Consumer Financial Protection Act of 2010 to provide for whistleblower incentives and protection. Introduced in Senate IS Introduced in Senate 2020-06-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3975is/xml/BILLS-116s3975is.xml 2020-07-29 Committee on Banking, Housing, and Urban Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.