Big banks get a big break on pending whistleblower law
Congress is poised to approve a new whistleblower law as part of the anti-money laundering provisions included as Section 6314 of the 2021 National Defense Authorization Act [“NDAA”]. Modelled on the highly successful Dodd-Frank Act that covers securities frauds, the NDAA whistleblower law includes two loopholes that will undermine its effectiveness and cause untold hardship to future whistleblowers. These loopholes must be closed.
