Summary: S.3990 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3990. Bill summaries are authored by CRS.

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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.