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S. 2591 114th Congress Senate

WARN Act of 2016

Official title: A bill to strengthen incentives and protections for whistleblowers in the financial industry and related regulatory agencies, and for other purposes.

Introduced: February 25, 2016 Introduced by: Tammy Baldwin Democratic · Wisconsin See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresAdministrative remediesBanking and financial institutions regulationCivil actions and liability
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Commodities marketsCommodity Futures Trading CommissionCriminal investigation, prosecution, interrogationDepartment of JusticeDepartment of the TreasuryEmployment discrimination and employee rightsEvidence and witnessesFederal Deposit Insurance Corporation (FDIC)Federal Housing Finance AgencyFederal Reserve SystemFraud offenses and financial crimesGovernment employee pay, benefits, personnel managementSecuritiesSecurities and Exchange Commission (SEC)
This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 25, 2016
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 25, 2016
Introduced in Senate
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 Latest action February 25, 2016

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Whistleblower Augmented Reward and Nonretaliation Act of 2016 or the WARN Act of 2016

This bill amends the Financial Institutions Anti-Fraud Enforcement Act of 1990 governing the rights of a private person (declarant) who files a declaration of a violation giving rise to a federal action for civil penalties with respect to fraud crimes involving federally insured financial institutions.

The bill revises the minimum and maximum percentage of a declarant's entitlement to share in the recovery by the United States from a judgment, order, or settlement that was based in whole or in part on the information contained in a valid declaration, and allows a 30-day window in which to appeal any award determination.

The bill prescribes specified relief in a civil action intended to protect declarants from employer reprisals including reinstatement with the same seniority status.

The Department of Justice shall require employers to provide education and training to employees regarding declarant rights and remedies.

The Federal Deposit Insurance Act is amended to extend similar protections to employees of banking agencies, together with the same minimum and maximum rewards for information leading to recoveries or civil penalties.

Both the Securities Exchange Act of 1934 and the Commodity Exchange Act are amended to: (1) remove the definition of whistleblower, and (2) prohibit the Securities and Exchange Commission and the Commodity Futures Trading Commission (Commissions) from denying eligibility for an award if the information basic to the award is submitted within 90 days after obtaining knowledge of the disclosed misconduct.

The Commissions shall presume that reports are timely and shall not reduce an award due to delay, unless disclosure was deliberately postponed either because of culpability, interference with internal investigative processes, or attempts at self-enrichment.

The prohibition against employer retaliation shall cover acts by the whistleblower in: (1) objecting to, or refusing to participate in, any activity, policy, practice which the whistleblower reasonably believed to be in violation of Commission-enforceable law, rule, order, standard, or prohibition; or (2) providing information relating to any violation within Commission jurisdiction.

Relief for an individual prevailing in an enforcement action shall include compensatory damages and up to $250,000 in punitive damages.

The bill prohibits employers from: (1) taking specified actions to impede an individual who undertakes a protected activity, or (2) engaging in any other discrimination that would chill the exercise of a protected activity.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 2591: WARN Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-S-2591/
MLA
"S. 2591: WARN Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-2591/.
Bluebook (legal)
S. 2591, 114th Cong. (2026), https://openamerica.io/bill/114-S-2591/.
Markdown link
[S. 2591: WARN Act of 2016](https://openamerica.io/bill/114-S-2591/)
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