Bureau Examination Fairness Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 5, 2014)
Bureau Examination Fairness Act - Amends the Consumer Financial Protection Act of 2010 to prohibit the Consumer Financial Protection Bureau (CFPB) from including enforcement attorneys when examining entities under its jurisdiction.
Requires the CFPB, when requesting data from such entities, to: (1) ensure that the different divisions of the CFPB coordinate with each other before the data is requested, (2) accompany each request with a written statement of its intended use, and (3) use peer-reviewed data sampling based upon limited data sets rather than requesting full data sets (unless the Director determines, in writing, that requesting full data sets is necessary).
Directs the CFPB also, with respect to a data request whose cost of compliance is anticipated to exceed $50,000 per company, to give the entity the Director's written approval for the request.
Requires the CFPB to: (1) complete examination field work and conduct an exit interview with the entity being examined within 60 days after the examination begins, and (2) produce a report of examination or supervisory letter within 120 days after the examination is completed.
Restricts the CFPB to performing only one limited-scope examination of an entity at any one time.
What just happenedJun 11, 2014
Ordered to be Reported by the Yeas and Nays: 33 - 26.
Who’s behind it
- Introduced in HouseJun 5, 2014
- Jun 11, 2014Committee
Ordered to be Reported by the Yeas and Nays: 33 - 26.
- Jun 11, 2014Committee
Committee Consideration and Mark-up Session Held.
- Jun 5, 2014IntroReferralH11100
Referred to the House Committee on Financial Services.
- Jun 5, 2014IntroReferralIntro-H
Introduced in House
- Jun 5, 2014IntroReferral1000
Introduced in House
- May 21, 2014Committee
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.