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Bill113th CongressFiled Nov 18, 2013Finance and Financial Sector
H.R. 3519

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013

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Under committee review

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What it doesSummary reported to house with amendment(s) (Feb 6, 2014)

Bureau of Consumer Financial Protection Accountability Act and Transparency Act of 2013 - (Sec. 2) Amends the Consumer Financial Protection Act of 2010 to: (1) rename the Consumer Financial Protection Bureau (CFPB) the Financial Product Safety Commission (FPSC) , (2) remove it from the Federal Reserve System, and (3) repeal the authority of the FPSC Director to establish regional offices in cities in which either Federal Reserve Banks or their branches are located.

Repeals the requirement that not fewer than six members of the Consumer Advisory Board be appointed to it by the FPSC Director on a rotating basis upon the recommendation of the regional Federal Reserve Bank Presidents.

(Sec. 3) Repeals the mandatory annual transfer of funds to the CFPB from the Board of Governors of the Federal Reserve System. Subjects the FPSC to the regular authorization, budget, and appropriations process of the Department of the Treasury.

Eliminates the Consumer Financial Protection Fund.

Authorizes appropriations for each of FY2014 and FY2015.

(Sec. 4) Deems any reference in any record of the United States to the CFPB to be a reference to the FPSC.

What just happenedFeb 6, 2014

Placed on the Union Calendar, Calendar No. 257.

Who’s behind it

Rep. Neugebauer, Randy [R-TX-19](R-TX)Sponsor
Read on Congress.gov
1committees9actions1related bills6subjects
  • Reported in HouseFeb 6, 2014
  • Introduced in HouseNov 18, 2013
  1. Feb 6, 2014CalendarsH12410

    Placed on the Union Calendar, Calendar No. 257.

  2. Feb 6, 2014CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-347.

  3. Feb 6, 2014Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 113-347.

  4. Nov 21, 2013Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 24.

  5. Nov 21, 2013Committee

    Committee Consideration and Mark-up Session Held.

  6. Nov 18, 2013IntroReferralH11100

    Referred to the House Committee on Financial Services.

  7. Nov 18, 2013IntroReferralIntro-H

    Introduced in House

  8. Nov 18, 2013IntroReferral1000

    Introduced in House

  9. Oct 29, 2013Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral.

Reported to House with amendment(s)Feb 6, 201417

Bureau of Consumer Financial Protection Accountability Act and Transparency Act of 2013 - (Sec. 2) Amends the Consumer Financial Protection Act of 2010 to: (1) rename the Consumer Financial Protection Bureau (CFPB) the Financial Product Safety Commission (FPSC) , (2) remove it from the Federal Reserve System, and (3) repeal the authority of the FPSC Director to establish regional offices in cities in which either Federal Reserve Banks or their branches are located.

Repeals the requirement that not fewer than six members of the Consumer Advisory Board be appointed to it by the FPSC Director on a rotating basis upon the recommendation of the regional Federal Reserve Bank Presidents.

(Sec. 3) Repeals the mandatory annual transfer of funds to the CFPB from the Board of Governors of the Federal Reserve System. Subjects the FPSC to the regular authorization, budget, and appropriations process of the Department of the Treasury.

Eliminates the Consumer Financial Protection Fund.

Authorizes appropriations for each of FY2014 and FY2015.

(Sec. 4) Deems any reference in any record of the United States to the CFPB to be a reference to the FPSC.

Introduced in HouseNov 18, 2013

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to: (1) remove the Consumer Financial Protection Bureau (CFPB) from the Federal Reserve System, and (2) repeal the authority of the CFPB Director to establish CFPB regional offices in cities in which are located either Federal Reserve Banks or their branches.

Repeals the mandatory annual transfer of funds to the CFPB from the Board of Governors of the Federal Reserve System. Subjects the CFPB to the regular authorization, budget, and appropriations process of the Department of the Treasury.

Repeals establishment of the CFPB Fund.

Revises authorization of appropriations for FY2010-FY2014 with an authorization for each of FY2014 and FY2015.

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 — Informed