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United States · Bill · HR

H.R. 3048 (114th)

Community Financial Institution Exemption Act

referredUnited States· United States Congress· EN

Introduced

14 July 2015

Last action

14 July 2015 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Williams, Roger [R-TX-25], Rep. Lucas, Frank D. [R-OK-3], Rep. Hill, J. French [R-AR-2], Rep. Marchant, Kenny [R-TX-24], Rep. Cole, Tom [R-OK-4], Rep. Barr, Andy [R-KY-6], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. Smith, Lamar [R-TX-21], Rep. Bridenstine, Jim [R-OK-1], Sen. Mullin, Markwayne [R-OK], Rep. Russell, Steve [R-OK-5], Rep. Jenkins, Lynn [R-KS-2], Rep. McKinley, David B. [R-WV-1], Rep. Flores, Bill [R-TX-17], Rep. Gohmert, Louie [R-TX-1], Rep. Hurd, Will [R-TX-23], Rep. Culberson, John Abney [R-TX-7], Rep. Love, Mia B. [R-UT-4], Rep. Grothman, Glenn [R-WI-6], Rep. Cuellar, Henry [D-TX-28], Rep. Reed, Tom [R-NY-23], Rep. Weber, Randy K. Sr. [R-TX-14], Rep. Westerman, Bruce [R-AR-4], Rep. Conaway, K. Michael [R-TX-11], Rep. Sessions, Pete [R-TX-17], Rep. Poe, Ted [R-TX-2], Rep. Babin, Brian [R-TX-36], Rep. Carter, John R. [R-TX-31], Rep. Luetkemeyer, Blaine [R-MO-3], Rep. Ratcliffe, John [R-TX-4], Rep. Posey, Bill [R-FL-8], Rep. Emmer, Tom [R-MN-6], Rep. Pittenger, Robert [R-NC-9], Rep. King, Peter T. [R-NY-2], Rep. Crawford, Eric A. "Rick" [R-AR-1], Rep. Olson, Pete [R-TX-22], Rep. Guinta, Frank C. [R-NH-1], Rep. Tipton, Scott R. [R-CO-3], Rep. Granger, Kay [R-TX-12], Rep. Ross, Dennis A. [R-FL-15], Rep. Pearce, Stevan [R-NM-2], Rep. Westmoreland, Lynn A. [R-GA-3], Rep. Stivers, Steve [R-OH-15], Rep. Green, Gene [D-TX-29], Rep. Vela, Filemon [D-TX-34], Rep. Womack, Steve [R-AR-3], Rep. Brady, Kevin [R-TX-8]

Subjects

Discovery layer

Source updated

12 August 2025

Official sourceDownload fileView documentsShare

Summary

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.

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

Timeline

  1. 14 July 2015

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 14 July 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 14 July 2015

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 14 July 2015

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  • Introduced in House (PDF)

    Introduced in House · EN · 14 July 2015

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  • Introduced in House

    summary · EN · 14 July 2015

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Sponsors

Related records

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Sources

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