US Congress House Bill 7793 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on July 27 2020 - 25% progression, died in committee
Action: 2020-07-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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 greater than or equal to $500,000. 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.

Financial Compensation for CFPB Whistleblowers Act

Rep. Al Green [D-TX]

Date	Chamber	Action
2020-07-27	House	Referred to the House Committee on Financial Services.
2020-07-27	House	Introduced in House

SB3975 (Related) 2020-07-29 - Committee on Banking, Housing, and Urban Affairs. Hearings held.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7793/all-info
Text	https://www.congress.gov/116/bills/hr7793/BILLS-116hr7793ih.pdf