[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3519 Reported in House (RH)]
Union Calendar No. 257
113th CONGRESS
2d Session
H. R. 3519
[Report No. 113-347]
To amend the Consumer Financial Protection Act of 2010 to make the
Bureau of Consumer Financial Protection an independent agency.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 18, 2013
Mr. Neugebauer introduced the following bill; which was referred to the
Committee on Financial Services
February 6, 2014
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
To amend the Consumer Financial Protection Act of 2010 to make the
Bureau of Consumer Financial Protection an independent agency.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Bureau of Consumer
Financial Protection Accountability and Transparency Act of
2013''.</DELETED>
<DELETED>SEC. 2. MAKING THE BUREAU AN INDEPENDENT AGENCY.</DELETED>
<DELETED> The Consumer Financial Protection Act of 2010 is amended--
</DELETED>
<DELETED> (1) in section 1011--</DELETED>
<DELETED> (A) in subsection (a), by striking ``in
the Federal Reserve System,''; and</DELETED>
<DELETED> (B) in subsection (e), by striking ``,
including in cities in which the Federal reserve banks,
or branches of such banks, are located,'';</DELETED>
<DELETED> (2) in section 1012(c), by striking paragraphs
(2), (3), (4), and (5); and</DELETED>
<DELETED> (3) in section 1014(b), by striking ``Not fewer
than 6 members shall be appointed upon the recommendation of
the regional Federal Reserve Bank Presidents, on a rotating
basis.''.</DELETED>
<DELETED>SEC. 3. BRINGING THE BUREAU INTO THE REGULAR APPROPRIATIONS
PROCESS.</DELETED>
<DELETED> Section 1017 of the Consumer Financial Protection Act of
2010 is amended--</DELETED>
<DELETED> (1) in subsection (a)--</DELETED>
<DELETED> (A) by amending the heading of such
subsection to read as follows: ``Budget, Financial
Management, and Audit.--'';</DELETED>
<DELETED> (B) by striking paragraphs (1), (2), and
(3);</DELETED>
<DELETED> (C) by redesignating paragraphs (4) and
(5) as paragraphs (1) and (2), respectively;
and</DELETED>
<DELETED> (D) by striking subparagraphs (E) and (F)
of paragraph (1), as so redesignated;</DELETED>
<DELETED> (2) by striking subsections (b) and (c);</DELETED>
<DELETED> (3) by redesignating subsections (d) and (e) as
subsections (b) and (c), respectively; and</DELETED>
<DELETED> (4) in subsection (c), as so redesignated--
</DELETED>
<DELETED> (A) by striking paragraphs (1), (2), and
(3) and inserting the following:</DELETED>
<DELETED> ``(1) Authorization of appropriations.--There are
authorized to be appropriated such sums as may be necessary to
carry out this title for each of fiscal years 2014 and 2015.'';
and</DELETED>
<DELETED> (B) by redesignating paragraph (4) as
paragraph (2).</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Bureau of Consumer Financial
Protection Accountability and Transparency Act of 2013''.
SEC. 2. MAKING THE BUREAU AN INDEPENDENT AGENCY.
The Consumer Financial Protection Act of 2010 is amended--
(1) in section 1011--
(A) in subsection (a)--
(i) by striking ``in the Federal Reserve
System,''; and
(ii) by striking ``Bureau of Consumer
Financial Protection'' and inserting
``Financial Product Safety Commission''; and
(B) in subsection (e), by striking ``, including in
cities in which the Federal reserve banks, or branches
of such banks, are located,'';
(2) in section 1012(c), by striking paragraphs (2), (3),
(4), and (5); and
(3) in section 1014(b), by striking ``Not fewer than 6
members shall be appointed upon the recommendation of the
regional Federal Reserve Bank Presidents, on a rotating
basis.''.
SEC. 3. BRINGING THE BUREAU INTO THE REGULAR APPROPRIATIONS PROCESS.
Section 1017 of the Consumer Financial Protection Act of 2010 is
amended--
(1) in subsection (a)--
(A) by amending the heading of such subsection to
read as follows: ``Budget, Financial Management, and
Audit.--'';
(B) by striking paragraphs (1), (2), and (3);
(C) by redesignating paragraphs (4) and (5) as
paragraphs (1) and (2), respectively; and
(D) by striking subparagraphs (E) and (F) of
paragraph (1), as so redesignated;
(2) by striking subsections (b) and (c);
(3) by redesignating subsections (d) and (e) as subsections
(b) and (c), respectively; and
(4) in subsection (c), as so redesignated--
(A) by striking paragraphs (1), (2), and (3) and
inserting the following:
``(1) Authorization of appropriations.--There are
authorized to be appropriated such sums as may be necessary to
carry out this title for each of fiscal years 2014 and 2015.'';
and
(B) by redesignating paragraph (4) as paragraph
(2).
SEC. 4. DEEMING OF NAME.
Any reference in a law, regulation, document, paper, or other
record of the United States to the Bureau of Consumer Financial
Protection shall be deemed a reference to the Financial Product Safety
Commission.
Union Calendar No. 257
113th CONGRESS
2d Session
H. R. 3519
[Report No. 113-347]
_______________________________________________________________________
A BILL
To amend the Consumer Financial Protection Act of 2010 to make the
Bureau of Consumer Financial Protection an independent agency.
_______________________________________________________________________
February 6, 2014
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed