H.R. 3048 · 114th Congress
Community Financial Institution Exemption Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
WilliamsSponsor46 cosponsors · 3 D, 43 R
R
Lucas
AB
R
Barr
TC
R
Cole
JH
R
Hill
KM
R
Marchant
WJ
R
Jones
LS
R
Smith
JB
R
Bridenstine
MM
R
Mullin
LJ
R
Jenkins
SR
R
Russell
BF
R
Flores
DM
R
McKinley
LG
R
Gohmert
JC
R
Culberson
WH
R
Hurd
GG
R
Grothman
ML
R
Love
HC
D
Cuellar
TR
R
Reed
RW
R
Weber
BW
R
Westerman
BB
R
Babin
KC
R
Conaway
TP
R
Poe
PS
R
Sessions
JC
R
Carter
BL
R
Luetkemeyer
BP
R
Posey
JR
R
Ratcliffe
RC
R
Crawford
TE
R
Emmer
PK
R
King
PO
R
Olson
RP
R
Pittenger
KG
R
Granger
FG
R
Guinta
DR
R
Ross
ST
R
Tipton
SP
R
Pearce
LW
R
Westmoreland
SS
R
Stivers
GG
D
Green
FV
D
Vela
SW
R
Womack
KB
R
Brady1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau. Defines a "community financial institution" as an insured depository institution or credit union with less than $10 billion in consolidated assets.
What it does: CRS summary · Introduced in House · Jul 14, 2015
Community Financial Institution Exemption Act
Amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau. Defines a "community financial institution" as an insured depository institution or credit union with less than $10 billion in consolidated assets.
Authorizes the Bureau to: (1) revoke such an exemption with respect to a specific rule or regulation issued or modified after enactment of this Act and with respect to a specific class of community financial institutions if the Bureau finds that such class of institutions has engaged in a pattern or practice of activities that have been detrimental to the interests of consumers and that are of a type that the specific rule or regulation is intended to address, and (2) modify a rule or regulation issued before enactment of this Act with respect to such institutions if the effect of such modification is to expand a current exemption or to reduce the costs and the regulatory burden associated with complying with such rule or regulation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Community Financial Institution Exemption Act
Latest action (Jul 14, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 14, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.