Attorney General proposes law protecting financial whistleblowers

New York whistleblowers who report financial crimes may soon be eligible to receive monetary awards and protection from the state. State Attorney General Eric Schneiderman is proposing legislation that would reward and protect employees who report information about illegal activity from the banking, insurance and financial services industries. The bill would provide financial compensation to employees who report fraud in their industry and whose tips lead to more than $1 million in penalties or…