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Code · BILL · 114th Congress · S. 2591 (Introduced in Senate) — To strengthen incentives and protections for whistleblowers in the financial industry and related regulatory agencies... · Sec. 2

Sec. 2. Financial Institutions Anti-Fraud Enforcement Act of 1990

583 words·~3 min read·/bill/114/s/2591/is/section-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The Financial Institutions Anti-Fraud Enforcement Act of 1990 ( 12 U.S.C. 4201 et seq. ) is amended— in section 2565(d) ( 12 U.S.C. 4205(d) )— in paragraph (1)(A), by striking clause
(i)and inserting the following: The declarant shall be entitled, with respect to the total recovery in the action or any related actions, to— not less than 10 percent; and not greater than 30 percent. ; and by adding at the end the following: Any determination regarding an award under this section may, not later than 30 days after the date on which the determination is made, be appealed to the appropriate court of appeals of the United States. ; by striking section 2572 ( 12 U.S.C. 4212 ) and inserting the following: A person may obtain all relief necessary to make the person whole if— an employer discharged, demoted, suspended, threatened, harassed, or in any other manner discriminated against the person in the terms and conditions of the employment of the person because of lawful acts taken by the person— in furtherance of a prosecution under section 215, 225, 287, 656, 657, 1001, 1005, 1006, 1007, 1014, 1032, 1341, 1343, 1344, or 1517 of title 18, United States Code; and including the provision of information that relates to, initiates, or assists— a prosecution described in subparagraph (A); or the investigation of or testimony in a prosecution described in subparagraph (A); and the person acted upon the direction of the employer of the person to deliberately cause the violation disclosed. Relief under subsection
(a)shall include— reinstatement with the same seniority status; twice the amount of back pay and interest to which the person would have been entitled but for the action of the employer; and compensation for any special damages sustained as a result of the action of the employer, including— litigation costs; expert witness fees; and reasonable attorneys fees. Complaints for relief under this section shall be governed by the procedures, evidentiary standards, and burdens of proof under section 1057 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5567 ). ; in section 2573 ( 12 U.S.C. 4213 )— by striking The Attorney General and inserting the following: The Attorney General ; and by adding at the end the following: The Attorney General shall issue regulations requiring every employer covered under this Act to provide education and training to the employees of the employer on the rights and remedies provided under this section, including by— providing individual notice to the employees; posting information on the home page of the website of the employer; and providing mandatory training for the employees. ; in section 2580 ( 12 U.S.C. 4225 ), by striking subsection
(c)and inserting the following: When the United States recovers any asset specifically identified in a valid declaration filed under section 2576 and the Attorney General determines that the asset would not have been recovered if the declarant had not filed the declaration, the declarant shall have the right to share in the recovery in the amount of, with respect to the total amount of the recovery in the action or related actions— not less than 10 percent; and not greater than 30 percent. ; and by striking section 2583 ( 12 U.S.C. 4228 ) and inserting the following: Any determination regarding an award under this chapter may, not later than 30 days after the date on which the determination is made, be appealed to the appropriate court of appeals of the United States. .
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