Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 7793
116th Congress(2019-2020)
Financial Compensation for CFPB Whistleblowers Act
Introduced
Introduced
Introduced in House on Jul 27, 2020
Overview
Text
Sponsor
Democrat
Introduced
Jul 27, 2020
Latest Action
Jul 27, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7793
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Al Green
Texas
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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 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.

Text (1)
Introduced in House
July 27, 2020
Related Bills (1)
Jun 17, 2020
Introduced in Senate
8
Sponsorship
Senate Bill 3975
Financial Compensation for CFPB Whistleblowers Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
07/27/2020
Referred to the House Committee on Financial Services.
07/27/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:49 PM
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