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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Title(s) as Introduced

Financial Product Safety Commission Act of 2020

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent Financial Product Safety Commission, and for other purposes.

Actions Overview (1)

Date Actions Overview
06/17/2020Introduced in Senate

All Actions (1)

Date All Actions
06/17/2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Barrasso, John [R-WY]* 06/17/2020
Sen. Cramer, Kevin [R-ND]* 06/17/2020
Sen. Sasse, Ben [R-NE]* 06/17/2020
Sen. Cotton, Tom [R-AR]* 06/17/2020
Sen. Perdue, David [R-GA] 06/23/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Banking, Housing, and Urban Affairs06/17/2020 Referred to

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Latest Summary (1)

There is one summary for S.3990. View summaries

Shown Here:
Introduced in Senate (06/17/2020)

Financial Product Safety Commission Act of 2020

This bill removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.