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Rewards and Protection for Consumer Financial Whistleblowers

This bill introduces a system of financial rewards and protections for individuals who report significant information about violations of consumer financial law. This aims to encourage citizens to expose fraud and misconduct, potentially leading to the recovery of funds for victims and punishment for wrongdoers. This empowers citizens to contribute to improved financial security.
Key points
Individuals reporting consumer financial law violations can receive 10% to 30% of collected monetary penalties 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.
Whistleblowers are protected from having their identity revealed, unless disclosure is required in a public proceeding.
The act prevents companies from forcing employees to waive their right to report violations through employment agreements or arbitration.
Awards are not granted to individuals who were involved in the criminal violation or provided false information.
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Expired
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Additional Information
Print number: 118_HR_2465
Sponsor: Rep. Green, Al [D-TX-9]
Process start date: 2023-04-03
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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 118_HR_2465.

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 2023-04-03.

What are the main provisions?

Key points include:

  • Individuals reporting consumer financial law violations can receive 10% to 30% of collected monetary penalties 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.
  • Whistleblowers are protected from having their identity revealed, unless disclosure is required in a public proceeding.
  • The act prevents companies from forcing employees to waive their right to report violations through employment agreements or arbitration.
  • Awards are not granted to individuals who were involved in the criminal violation or provided false information.
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 2025-12-24.

CATEGORIES

Courts and Law Economy