Summary: H.R.6667 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.6667. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (12/13/2012)

Financial Consumers Association Act of 2012 - Authorizes the establishment of, and sets forth operational requirements for, a nonprofit corporation to be known as the Financial Consumers Association whose mission shall be to advance the rights and remedies available to consumers with respect to financial services, by developing initiatives to reduce the use of dangerous features in financial products and services, and to improve the flow of accurate information to consumers.

Includes among the Association's duties to: (1) represent and promote the interests of financial services consumers and negotiate on their behalf, (2) take affirmative measures to encourage membership by low- and moderate-income and minority consumers and disseminate information and advice, (3) monitor the availability and quality of financial services to low- and moderate-income constituencies and the elderly, and (4) develop data to assist financial services consumers in making informed decisions in the marketplace.

Gives the Association the right to include inserts in financial services mailings, in paper or by electronic means, that inform customers about the Association and its representation of financial services consumers and solicit information and contributions or membership fees.

Requires annual reports to the President and Congress on the Association's activities of the preceding year.