CFPB Transparency and Accountability Reform Act

Summary

CFPB Transparency and Accountability Reform Act This bill changes the structure, funding, and rulemaking procedures of the Consumer Financial Protection Bureau. The bill removes the bureau from the Federal Reserve System and reestablishes it as an independent agency. The bill also changes the leadership structure by establishing a five-person commission led by a chair rather than a director as under current law. The bill eliminates the bureau's ability to receive funding through transfers from the Federal Reserve and brings the bureau under the regular appropriations process. The bill also establishes a separate inspector general for the bureau. Currently, the bureau is under the supervision of the Federal Reserve's Inspector General. Additionally, the bill creates within the bureau the Office of Economic Analysis that must review all proposed and existing guidance, orders, rules, and regulations. In the course of a rulemaking, the office must publish an assessment of all anticipated direct and indirect costs and benefits of the proposed regulation and of any reasonable alternatives. As part of the required analysis under the Regulatory Flexibility Act, the bureau must describe the impact on small businesses of proposed and final rules and a justification for the rejection of any alternatives. Finally, the bill requires the bureau to provide awards to whistleblowers who report information resulting in monetary sanctions.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 24 April 2023

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, the Judiciary, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 24 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 24 April 2023

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 April 2023

   Vote

   Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 26 - 23.

   Source: Committee

5. 26 April 2023

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

6. 4 December 2023

   Calendars

   Placed on the Union Calendar, Calendar No. 241.

   Source: Calendars

7. 4 December 2023

   Discharge

   Committee on Oversight and Accountability discharged.

   Source: Discharge

8. 4 December 2023

   Committee

   Committee on Oversight and Accountability discharged.

   Source: Committee

9. 4 December 2023

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 118-297, Part I.

   Source: Committee

10. 4 December 2023

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-297, Part I.

    Source: Committee

Votes

No vote records are attached yet.

Versions

• Reported in House · 4 December 2023 · Download file
• Introduced in House · 24 April 2023 · Download file

Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 4 December 2023

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 4 December 2023

  ViewDownloadOpen at official source

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  Vertaal document

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• Reported to House, Part I

  summary · EN · 4 December 2023

  Open at official source

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  Vertaal document

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• Introduced in House (text)

  Introduced in House · EN · 24 April 2023

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House (PDF)

  Introduced in House · EN · 24 April 2023

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 24 April 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Barr, Andy [R-KY-6] · R · Sponsor
• Rep. Houchin, Erin [R-IN-9] · R · Cosponsor
• Rep. Hunt, Wesley [R-TX-38] · R · Cosponsor
• · hssm00 · Standing
• · hsju00 · Standing
• · hsgo00 · Standing
• · hsba00 · Standing

Related records

• related to → Transparency in CFPB Cost-Benefit Analysis Act
• related to → Consumer Financial Protection Commission Act
• related to → CFPB–IG Reform Act of 2023
• related to → Making the CFPB Accountable to Small Businesses Act of 2023
• related to → Financial Compensation for CFPB Whistleblowers Act
• related to → CFPB Dual Mandate and Economic Analysis Act
• related to → CFPB Whistleblower Incentives and Protection Act
• related to → Financial Compensation for CFPB Whistleblowers Act
• related to ← Transparency in CFPB Cost-Benefit Analysis Act