CFPB Seeking Whistleblower Tips on Lending Violations

December 16, 2011
American Banker 
consumer financial protection bureau news

The Consumer Financial Protection Bureau has announced that it will start accepting information from whistleblowers about potential violations of federal consumer financial laws. The watchdog has launched a toll-free hotline and dedicated e-mail for tips, and it plans to launch an online tips portal on its Web site early next year. Under the Dodd-Frank Act, employees who report their firms for possible violations are protected from retaliation, termination, and discrimination. However, the bureau noted that it will penalize individuals who provide frivolous tips or those in bad faith. Employees can report suspicions anonymously or can request that their information is kept confidential if they do submit their names and contact information.
Web Link - May Require Paid Subscription

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.