Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
House vote expected this week on CFPB restructure bill

WASHINGTON (2/10/14)--The U.S. House of Representatives will consider H.R. 3193 this week, a bill that would restructure the leadership of the Consumer Financial Protection Bureau from a single director to a five-member panel.  

The bill, called the Consumer Financial Protection Safety and Soundness Improvement Act, would also make some fundamental changes to the way the bureau operates.  For instance, it would authorize the Financial Stability Oversight Council to set aside any CFPB regulation that is found to be inconsistent with safe and sound operations of financial institutions. It also would require the CFPB to take into consideration the impact of its rules on insured depository institutions.  

The House Financial Services Committee approved the bill, along with five other CFPB-related ones, late last November.  However, even if the House passes the bill this week, its future in the Senate is considered to be very bleak.



RSS print
News Now LiveWire
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
1 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
1 hours ago
See @CUNA's @SchenkMike on TheStreet discussing a new surge consumer confidence http://t.co/SqjarTBLCQ
2 hours ago
.@CFPB pushes back cmmt deadline on proposal to allow consumer narratives in complaints database--now 9/22, was 8/22. http://t.co/mHLlRVjEij
2 hours ago
@FHFA will hold 8/14 outreach in Atlanta for homeowners who still could benefit from the HARP refinance program. More in #NewsNow Thurs.
2 hours ago