US HB4662 | 2013-2014 | 113th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on May 15 2014 - 25% progression, died in chamber
Action: 2014-06-11 - Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 15 2014 - 25% progression, died in chamber
Action: 2014-06-11 - Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
Text: Latest bill text (Introduced) [PDF]
Summary
Bureau Advisory Opinion Act - Amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to: (1) establish a procedure to respond to specific inquiries by a covered person concerning conformance of prospective conduct with federal consumer financial law, and (2) issue an opinion in response to the inquiry within 90 days (with a single allowable extension of another 45 days). (A "covered person" under the Act is: (1) any person that engages in offering or providing a consumer financial product or service; and (2) any affiliate of that person if the affiliate acts as a service provider to the person.) Creats a rebuttable presumption in any action brought under federal consumer financial law that any conduct for which the Director has issued an opinion that it is in conformity with the opinion is indeed in compliance with federal consumer financial law. Exempts such inquiries and advisory opinions from disclosure under the Freedom of Information Act.
Title
Bureau Advisory Opinion Act
Sponsors
Rep. Bill Posey [R-FL] | Rep. Ann Wagner [R-MO] |
History
Date | Chamber | Action |
---|---|---|
2014-06-11 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27. |
2014-06-11 | House | Committee Consideration and Mark-up Session Held. |
2014-05-21 | House | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. |
2014-05-15 | House | Referred to the House Committee on Financial Services. |
Subjects
Administrative remedies
Banking and financial institutions regulation
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Financial services and investments
Government information and archives
Small business
Banking and financial institutions regulation
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Financial services and investments
Government information and archives
Small business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/113th-congress/house-bill/4662/all-info |
Text | https://www.congress.gov/113/bills/hr4662/BILLS-113hr4662ih.pdf |