(b) REPORTING BY CERTAIN TRANSPORTERS.—Not 
later than the end of the 270-day period beginning on the 
date of the enactment of this Act, the Secretary of the 
Treasury shall issue final regulations to establish the man-
ner in which operators of armored cars and other commer-
cial monetary instrument transport enterprises are to 
comply with the reporting requirements under section 
5316 of title 31, United States Code. 
SEC. 403. DEFINITION OF AN INSTITUTION-AFFILIATED 
PARTY. 
(a) DEFINITION.—Section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813(u)) is amended— 
(1) in subsection (u)(4), by striking ‘‘know-
ingly’’ and all that follows through the end of the 
paragraph and inserting ‘‘participates in the conduct 
of, the affairs of, or conducts the business of an in-
sured depository institution.’’; and 
(2) by adding at the end the following: 
‘‘(aa) UNSAFE OR UNSOUND PRACTICE.—The term 
‘unsafe or unsound practice’ means, any action, or lack 
of action, which is contrary to generally accepted stand-
ards of prudent operation, the possible consequences of 
which, if continued, would be abnormal risk or loss or 
damage to an institution, its shareholders, or the Deposit 
Insurance Fund.’’. 
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(b) RULE OF CONSTRUCTION RELATED TO INDE-
PENDENT CONTRACTORS.—Section 8 of the Federal De-
posit Insurance Act (12 U.S.C. 1818) is amended by add-
ing at the end the following: 
‘‘(x) RULE OF CONSTRUCTION RELATED TO INDE-
PENDENT CONTRACTORS.—For purposes of this Act, an 
independent contractor participates in the conduct of the 
affairs of, or conducts the business of, an insured deposi-
tory institution by performing services for the institu-
tion.’’. 
TITLE V—WHISTLEBLOWER 
PROTECTIONS 
SEC. 501. MODERNIZATION AND UPGRADING WHISTLE-
BLOWER PROTECTIONS. 
(a) IN GENERAL.—Section 5328 of title 31, United 
States Code, is amended— 
(1) by striking subsections (a) and (b) and in-
serting the following: 
‘‘(a) PROHIBITION AGAINST DISCRIMINATION.—No 
financial institution or nonfinancial trade or business may 
discharge or otherwise discriminate against any applicant 
for employment, employee, or former employee with re-
spect to compensation, terms, conditions, or privileges of 
employment because the applicant, employee, or former 
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employee (or any person acting pursuant to the request 
of the employee)— 
‘‘(1) provided, was about to provide, assisted in 
providing, or was perceived as providing information 
to the Secretary of the Treasury, the Attorney Gen-
eral, any Federal supervisory agency, or the Con-
gress regarding a possible violation of any provision 
of this subchapter or section 1956, 1957, or 1960 of 
title 18, or any regulation under any such provision, 
by the financial institution or nonfinancial trade or 
business or any director, officer, or employee of the 
financial institution or nonfinancial trade or busi-
ness; or 
‘‘(2) objected to, or refused to participate in, 
any activity, policy, practice, or assigned task that 
the applicant, employee, former employee (or other 
such person) reasonably believed to be in violation of 
any provision of this subchapter or any other Act 
enforced by the Secretary of the Treasury, the At-
torney General, a Federal supervisory agency, or any 
order, rule, regulation, standard, or ban under this 
subchapter of any of such Acts. 
‘‘(b) ENFORCEMENT.—Within the 2-year period be-
ginning on the date an applicant, employee, or former em-
ployee who believes that such applicant, employee, or 
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former employee has been discharged or discriminated 
against in violation of subsection (a), such applicant, em-
ployee, or former employee may— 
‘‘(1) file a civil action in the appropriate United 
States district court, in accordance with the burdens 
of proof and remedies set forth in section 1057 of 
the Consumer Financial Protection Act of 2010 (12 
U.S.C. 5567); or 
‘‘(2) file a complaint with the Secretary of 
Labor with regards to a violation of subsection (a) 
to seek relief in accordance with the procedures, bur-
dens of proof, and remedies set forth in section 1057 
of the Consumer Financial Protection Act of 2010 
(12 U.S.C. 5567) for a violation of subsection (a) of 
such section, except that for purposes of such a com-
plaint, the time period specified under subsection 
(c)(1)(A) of such section shall be deemed to be a 2- 
year period.’’; 
(2) in subsection (c), by inserting after ‘‘district 
court’’ the following: ‘‘or the Secretary, as applica-
ble,’’; and 
(3) by amending subsection (e) to read as fol-
lows: 
‘‘(e) EDUCATION.—The Secretary of the Treasury 
shall issue regulations requiring each financial institution 
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and nonfinancial trade or business to provide education 
and training to its employees on the rights and remedies 
provided under this section, including through individual 
notice to its employees, posting information on its website 
home page, and providing mandatory training for its em-
ployees. Such education and training may be incorporated 
into existing education or training on the requirements of 
this subtitle provided by such institution or trade or busi-
ness. 
‘‘(f) INDEPENDENT LINES OF COMMUNICATION.— 
The Secretary of the Treasury shall issue regulations re-
quiring each financial institution and nonfinancial trade 
or business— 
‘‘(1) to have a procedure in place for an em-
ployee or former employee to report directly to the 
chief executive officer, a representative appointed by 
and reporting directly to the chief executive officer 
who is specifically designated to receive such a re-
port, or through a hotline consistent with profes-
sional best practices to the audit committee of the 
board of directors, if such employee or former em-
ployee believes that violations of this subchapter 
have occurred or are occurring at such institution, 
trade, or business; and 
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