Text: S.453 — 116th Congress (2019-2020)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in Senate (02/12/2019)


116th CONGRESS
1st Session
S. 453


To amend the Consumer Financial Protection Act of 2010 to subject the Bureau of Consumer Financial Protection to the regular appropriations process, and for other purposes.


IN THE SENATE OF THE UNITED STATES

February 12, 2019

Mr. Perdue (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mr. Cruz, Ms. Ernst, Mr. Grassley, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Inhofe, Mr. Isakson, Mr. Kennedy, Mr. Lankford, Mr. Moran, Mr. Rounds, Mr. Rubio, Mr. Sasse, and Mr. Sullivan) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs


A BILL

To amend the Consumer Financial Protection Act of 2010 to subject the Bureau of Consumer Financial Protection to the regular appropriations process, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Consumer Financial Protection Bureau Accountability Act of 2019”.

SEC. 2. Subjecting the Bureau of Consumer Financial Protection to the regular appropriations process.

(a) In general.—Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended—

(1) in subsection (a)—

(A) in the subsection heading, by striking “Transfer of Funds From Board Of Governors.—” and inserting “Budget and Financial Management.—”;

(B) by striking paragraphs (1) through (3);

(C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and

(D) in paragraph (1), as so redesignated—

(i) in the paragraph heading, by striking “Budget and financial management.—” and inserting “In general.—”;

(ii) by striking subparagraph (E); and

(iii) by redesignating subparagraph (F) as subparagraph (E);

(2) by striking subsections (b) through (d);

(3) by redesignating subsection (e) as subsection (b); and

(4) in subsection (b), as so redesignated—

(A) by striking paragraphs (1) through (3) and inserting the following:

“(1) AUTHORIZATION OF APPROPRIATIONS.—There is authorized to be appropriated such funds as may be necessary to carry out this title for fiscal year 2021.”; and

(B) by redesignating paragraph (4) as paragraph (2).

(b) Effective date.—The amendments made by this Act shall take effect on October 1, 2020.