H.R. 1264 · 115th Congress
Community Financial Institution Exemption Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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WilliamsSponsor30 cosponsors · 30 R
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Granger0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Consumer Financial Protection Act of 2010 to exempt certain financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). Specifically, the bill exempts from regulation an insured depository institution or credit union with less than $50 billion in consolidated assets.
What it does: CRS summary · Reported to House with amendment(s) · Aug 3, 2018
Community Financial Institution Exemption Act
This bill amends the Consumer Financial Protection Act of 2010 to exempt certain financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). Specifically, the bill exempts from regulation an insured depository institution or credit union with less than $50 billion in consolidated assets.
Under specified circumstances, and with the written agreement of the Federal Reserve Board and other specified federal banking agencies, the CFPB may revoke such an exemption with respect to a certain rule or regulation and a specific class of institutions.
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 (Aug 3, 2018): Placed on the Union Calendar, Calendar No. 683.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 28, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.