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S. 3975 116th Congress Senate

Financial Compensation for CFPB Whistleblowers Act

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

Introduced: June 17, 2020 Introduced by: Catherine Cortez Masto Democratic · Nevada See on congress.gov
Finance and Financial Sector Administrative remediesCivil actions and liabilityCongressional oversightConsumer Financial Protection Bureau
More subjectsShow fewer subjects
Consumer affairsConsumer creditEmployment discrimination and employee rightsFraud offenses and financial crimesGovernment information and archivesJudicial review and appealsLawyers and legal servicesRight of privacy
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2020
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.
Jun 17, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 17, 2020
Introduced in Senate
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 Latest action July 29, 2020

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-441.

 Plain-English summary Congressional Research Service

Financial Compensation for CFPB Whistleblowers Act

This bill requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions exceeding $1 million. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater. The bill also sets forth requirements regarding the legal representation of a whistleblower and provides for confidentiality regarding the whistleblower's identity.

 Related & companion bills 1
  • HR 7793 Financial Compensation for CFPB Whistleblowers Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 6
D
Blumenthal, Richard
Connecticut · Jun 17, 2020
 D
Durbin, Richard J.
Illinois · Jun 17, 2020
 D
Merkley, Jeff
Oregon · Jun 17, 2020
 D
Smith, Tina
Minnesota · Jun 17, 2020
 D
Warren, Elizabeth
Massachusetts · Jun 17, 2020
 D
Wyden, Ron
Oregon · Jun 17, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3975: Financial Compensation for CFPB Whistleblowers Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-3975/
MLA
"S. 3975: Financial Compensation for CFPB Whistleblowers Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3975/.
Bluebook (legal)
S. 3975, 116th Cong. (2026), https://openamerica.io/bill/116-S-3975/.
Markdown link
[S. 3975: Financial Compensation for CFPB Whistleblowers Act](https://openamerica.io/bill/116-S-3975/)
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