Bill > HR2402

This bill, the Consumer Financial Protection Commission Act of 2013, proposes to amend the Consumer Financial Protection Act of 2010, which is part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, by replacing the single Director of the Bureau of Consumer Financial Protection with a five-member Commission. This Commission would be appointed by the President with Senate approval, and its members would have expertise in consumer financial protection, with a specific focus on protecting service members and their families from predatory financial practices. The bill also establishes that the Chair of this new Commission cannot request funding estimates without the Commission's prior approval, and it makes numerous conforming amendments throughout various laws to reflect this shift from a single Director to a Commission.