CFPB Whistleblower Incentives and Protection Act 2021-10-25 Introduced in House CFPB Whistleblower Incentives and Protection Act

This bill requires the Consumer Financial Protection Bureau to provide awards 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 (1) not less than the greater of 10% of the collected monetary sanctions, or $50,000; and (2) not more than 30% of the collected monetary sanctions. The compensation to any single whistleblower is capped at $5 million. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.

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