Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013

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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R NeugebauerSponsor

No cosponsors.

Bureau of Consumer Financial Protection Accountability Act and Transparency Act of 2013 - (Sec.

What it does: CRS summary · 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.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013

Latest action (Feb 6, 2014): Placed on the Union Calendar, Calendar No. 257.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 18, 2013

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.