summary
Introduced
03/07/2023
03/07/2023
In Committee
03/07/2023
03/07/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To amend the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent Consumer Financial Protection Commission, and for other purposes.
AI Summary
This bill amends the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent Consumer Financial Protection Commission. The key provisions include:
- Renaming the Bureau as the Consumer Financial Protection Commission and establishing it as an independent commission with a 5-member board appointed by the President and confirmed by the Senate.
- Specifying the composition, terms, and leadership structure of the Commission, including the role of the Chair.
- Detailing quorum and vacancy requirements for the Commission to conduct business.
- Requiring conforming amendments to various laws and regulations to replace references to the "Director of the Bureau" with the "Consumer Financial Protection Commission."
The overall effect is to transform the Bureau into an independent commission rather than a bureau within the Federal Reserve System.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Referred to the House Committee on Financial Services. (on 03/07/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/1410/all-info |
| BillText | https://www.congress.gov/118/bills/hr1410/BILLS-118hr1410ih.pdf |
Loading...