The Department of Labor Issued its Final Rule Regarding Procedures for Handling Employee Retaliation Complaints under the Employee Protection Provision of the Consumer Financial Protection Act

A covered person (offers or provides consumer financial products or services) cannot retaliate against an employee for: (1) reporting to a governmental authority or law agency information that the employee believes is a violation of the Dodd-Frank Act; (2) testifying regarding the administration or enforcement of any provision of the Dodd-Frank Act; (3) filing any proceeding under any federal consumer financial law; or (4) objecting to, or refusing to participate in, any activity, policy, practice, or assigned task that the employee reasonably believes to be in violation of any law, rule, order, standard, or prohibition subject to the jurisdiction of, or enforceable by, the CFPB.

The final rule establishes the steps that the employee, the institution and OSHA must take to file, investigate and respond to claims of retaliation.