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Whistleblower Rewards for Consumer Protection: New Rules and Payouts

New rules aim to encourage individuals to report financial fraud that harms consumers. Whistleblowers who provide original information leading to successful enforcement actions against companies can receive a portion of the recovered funds. This is intended to enhance citizens' financial security and protect them from unfair practices.
Key points
Individuals reporting violations of consumer financial law can receive between 10% and 30% of collected monetary sanctions if the amount exceeds $1 million.
Even if the collected amount is less than $1 million, whistleblowers can receive at least $50,000 or 10% of the collected amount, whichever is greater.
Whistleblower information will be protected, and their identity will remain confidential unless disclosure is required in a public proceeding.
The law prohibits companies from forcing employees to waive their right to report violations or to arbitrate such disputes.
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Additional Information
Print number: 117_HR_5484
Sponsor: Rep. Green, Al [D-TX-9]
Process start date: 2021-10-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Compensation for CFPB Whistleblowers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5484.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-10-05.

What are the main provisions?

Key points include:

  • Individuals reporting violations of consumer financial law can receive between 10% and 30% of collected monetary sanctions if the amount exceeds $1 million.
  • Even if the collected amount is less than $1 million, whistleblowers can receive at least $50,000 or 10% of the collected amount, whichever is greater.
  • Whistleblower information will be protected, and their identity will remain confidential unless disclosure is required in a public proceeding.
  • The law prohibits companies from forcing employees to waive their right to report violations or to arbitrate such disputes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Green, Al [D-TX-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Courts and Law Economy