S 1124 118th Congress Senate Finance and Financial Sector

Financial Compensation for CFPB Whistleblowers Act

Introduced: March 30, 2023 Introduced by: Cortez Masto, Catherine Democratic · Nevada See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 30, 2023

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

Mar 30, 2023

Introduced in Senate

Plain-English summary Congressional Research Service

Financial Compensation for CFPB Whistleblowers Act

This bill requires the Consumer Financial Protection Bureau to provide awards to whistleblowers who report information resulting in monetary sanctions.

Whistleblowers claiming an award are permitted to have legal representation. Anonymous whistleblowers claiming an award are required to have legal representation and must disclose their identity to the bureau. The bureau may not disclose an anonymous whistleblower's identity except in limited circumstances, including to other government agencies in the course of an investigation.

The protections in this bill may not be waived by any employment agreement, including by a predispute arbitration agreement.

What's happening now March 30, 2023

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

Committees of jurisdiction 1