118th Congress · SENATE BILLBILL

S. 1124Financial Compensation for CFPB Whistleblowers Act

A bill to amend the Consumer Financial Protection Act of 2010 to provide for whistleblower incentives and protection.

Finance and financial sector
Introduced Mar 30, 2023
Last action Mar 30, 2023
Pipeline · Bill → Law
Step 1
Introduced
Mar 30, 2023
Step 2
Referred
Mar 30, 2023
Banking, Housing, and Urban Affairs
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill requires the Consumer Financial Protection Bureau to provide awards to whistleblowers who report information resulting in monetary sanctions. Whistleblowers claiming an award are permitted to have legal representation. Anonymous whistleblowers claiming an award are required to have legal representation and must disclose their identity to the bureau. The bureau may not disclose an anonymous whistleblower's identity except in limited circumstances, including to other government agencies in the course of an investigation. The protections in this bill may not be waived by any employment agreement, including by a predispute arbitration agreement.

Provisions · 2 sectionsIntroduced in Senate
Timeline · 2 actions
Mar 30, 2023
Introduced in Senate
Mar 30, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.