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10.23 Whistleblower Protection

<< Title X Overview

10.23 Whistleblower Protection

 

 


10.23.               Whistleblower Protection.  The Act provides that a Covered Person or service provider may not terminate or in any other way discriminate against, an employee who has taken specified steps to provide information in regard to a violation of Federal consumer financial law.  Whistleblower protection also extends to an employee that has objected to or refused to participate in an activity that he or she reasonably believed to be in violation of any law, rule, order, standard or prohibition subject to the jurisdiction of, or enforceable by, the Bureau.  The Act provides procedures for an employee for bring a claim before the Secretary of Labor.  If the Secretary determines a violation occurred, the Secretary will order the person who committed the violation (i) to take affirmative action to abate the violation, (ii) to reinstate the employee and pay back pay, and (iii) to provide compensatory damages to the complainant.  The Secretary will assess costs and expenses incurred by the complainant.  The Secretary may award attorney costs of up to $1,000 to the prevailing employer in the case of a frivolous claim. 

            These rights and remedies cannot be waived in an employment contract.  No pre-dispute arbitration agreement will be valid or enforceable to the extent it requires arbitration of a dispute arising under these whistleblower protections. [§ 1057]