Sec. 3. SIGTARP to oversee use of consultants
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Section 121 of the Emergency Economic Stabilization Act of 2008 ( 12 U.S.C. 5231 ) is amended— in subsection (c), by adding at the end the following: In addition, the Special Inspector General shall also have the duties and responsibilities of providing oversight of— consent orders entered into by an appropriate Federal banking agency; and the performance of independent consultants hired by an appropriate Federal banking agency to assist in carrying out such consent orders, as described under section 51 of the Federal Deposit Insurance Act. ; and by amending subsection
(k)to read as follows: The Special Inspector General may bring a civil action in any court of competent jurisdiction against an independent consultant described under section 51(a) of the Federal Deposit Insurance Act for damages and equitable relief for any violations of the consultant’s duties under the contract under which the consultant is assisting an appropriate Federal banking agency in carrying out a consent order. The Special Inspector General shall establish a whistleblower program under which— the Special Inspector General pays an award or awards to 1 or more whistleblowers who voluntarily provide original information to the Special Inspector General that leads to the successful enforcement of a judicial or administrative action brought by the Special Inspector General against an independent consultant described under section 51(a) of the Federal Deposit Insurance Act that results in monetary sanctions exceeding $1,000,000; and the employer of a whistleblower may not discriminate against a whistleblower in the terms and conditions of employment of the whistleblower because of any lawful act done by the whistleblower. To the extent practicable, the whistleblower program established under this subsection shall be carried out in the same manner as the whistleblower provision under section 21F of the Securities Exchange Act of 1934 (15 U.S.C. 78u–6). .
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- 15 USC 78u–6
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