Attorney General Eric Holder on Wednesday called on the government to increase rewards for those who blow the whistle on financial crimes, arguing that greater incentives are needed to induce people to come forward with insider information.
In a speech at New York University School of Law, Holder said the maximum payout—$1.6 million—for tips under Financial Institutions Reform, Recovery, and Enforcement Act is a “paltry sum in an industry in which, last year, the collective bonus pool rose above $26 billion, and median executive pay was $15 million and rising.”
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