The FTC Whistleblower Act of 2024 (“Whistleblower Act”) is making headlines for good reason. Reintroduced by Representatives Jan Schakowsky and Lori Trahan, this bill aims to create a strong whistleblower program within the Federal Trade Commission. The goal is to boost consumer protection and corporate accountability by encouraging people to report violations of laws that fall within the FTC’s jurisdiction. This includes both consumer protection laws and antitrust regulations.
My name is Bob Goodman. I am a partner at Parrish Goodman, where we represent whistleblowers. We make videos and write articles like this to help educate the public and whistleblowers about their rights and options. If you would like to learn more, I invite you to explore the additional resources available on our website.
Why the Whistleblower Act is Such an Important Change
One of the most significant advancements in the 2024 version of the Whistleblower Act is that it includes mandatory protections for whistleblowers against retaliation. Unlike the 2021 version, which had more discretionary language, the new bill makes it clear that the FTC must pay awards to qualified whistleblowers. This change brings the FTC in line with the successful approach of the SEC’s whistleblower program.
That means individuals who choose to expose wrongdoing can be confident they are protected from things like termination of employment, harassment, or other forms of retaliation. It is an essential move toward making sure people feel safe enough to come forward when they see something wrong.
How the Bill Makes Compensation Easier for Whistleblowers
Another important part of the Whistleblower Act is its plan to create a designated fund within the FTC to pay awards to whistleblowers. By setting up this dedicated fund, the process of paying awards can be made more efficient and timely. This structural change is designed to remove unnecessary barriers and delays, so more people feel encouraged to step forward with valuable information about corporate misconduct.
Expanding the Scope of What Can Be Reported
This bill empowers whistleblowers to report a wide range of violations, not just a narrow set of infractions. That includes anything related to consumer protection and antitrust laws. By broadening the scope of what can be reported, the new law aims to uncover and stop exploitative business practices in many different industries, from technology and finance to agriculture. This comprehensive approach ensures the FTC has the tools it needs to identify and act on many forms of corporate wrongdoing.
Promoting Transparency and Accountability
The reintroduction of the FTC Whistleblower Act of 2024 is a big step toward improving transparency and accountability in the corporate world. It offers mandatory protections for whistleblowers, establishes a dedicated fund for paying awards, and expands the kinds of violations that can be reported. At its core, the bill is about empowering people to do the right thing in the public interest without fearing retaliation.
If passed, this legislation could play a critical role in protecting consumers and promoting ethical business practices across many sectors.
Talk to Us About Your Whistleblower Concerns
If you believe you have information about corporate wrongdoing, I encourage you to call and schedule a time to talk with our team. We will review your case and help you explore all your options. There is no cost to speak with us, and if we do not believe your case has merit, we will tell you that upfront.
If your case does have merit, we will be there to help you fight it every step of the way. Give us a call today.
