Regulatory Alerts2022-09-08
SR 22-7: Policy Statement on Whistleblower Claims
The Board of Governors of the Federal Reserve System issued this policy statement to promote the submission of whistleblower claims regarding misconduct or violations of law by supervised banking organizations. The document outlines confidential reporting channels managed by the Ombuds Office and affirms that the Federal Reserve does not tolerate retaliation against whistleblowers, with potential rewards of up to $100,000 or 25 percent of collected fines available under specific statutory conditions. It further clarifies that while identity is generally protected, disclosure may occur in response to legal processes or requests from other agencies, and directs consumers and fraud reporters to appropriate separate resources.
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