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Financial Compensation and Protection for Consumer Financial Protection Bureau Whistleblowers.

This Act establishes a reward system for individuals who provide the Consumer Financial Protection Bureau (CFPB) with original information leading to successful enforcement actions against financial misconduct. Whistleblowers whose tips result in monetary sanctions over $1 million will receive 10% to 30% of the collected penalties. This aims to enhance consumer financial safety by incentivizing the reporting of major violations and protecting those who speak up.
Key points
Monetary awards (10-30% of penalties) for reporting financial fraud resulting in sanctions over $1 million.
Strong confidentiality protections for whistleblowers and invalidation of employment agreements that waive these rights.
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Expired
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Additional Information
Print number: 118_S_1124
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2023-03-30
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
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_S_1124.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • Monetary awards (10-30% of penalties) for reporting financial fraud resulting in sanctions over $1 million.
  • Strong confidentiality protections for whistleblowers and invalidation of employment agreements that waive these rights.
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 Sen. Cortez Masto, Catherine [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Courts and Law