US HB5211 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on May 12 2016 - 25% progression, died in committee
Action: 2016-05-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 12 2016 - 25% progression, died in committee
Action: 2016-05-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
CFPB Dual Mandate and Economic Analysis Act This bill amends the Consumer Financial Protection Act of 2010 to revise the purpose of the Consumer Financial Protection Bureau (CFPB) regarding competition in markets for consumer financial products and services. The CFPB shall implement and, where applicable, enforce federal consumer financial law consistently for the purpose of strengthening private sector participation in markets, without government interference or subsidies, to increase competition and enhance consumer choice. The CFPB shall establish an Office of Economic Analysis (OEA) to: review all CFPB proposed guidance, orders, rules and regulations; assess their impact on consumer choice, price, and access to credit products; assess them again after 1, 2, 5, and 10 years; measure the success of the rule, regulation, guidance, or order in solving the problem it was intended to solve when issued; and report on these reviews and assessments in the Federal Register. Before issuing any guidance, order, rule, or regulation, the CFPB shall consider the OEA's review and assessment of it, giving notice and explanation if the CFPB disagrees with the OEA. The CFPB shall also, in each proposed rulemaking, identify the problem the particular rule or regulations is seeking to solve, and specify the metrics by which success in solving the problem will be measured.
Title
CFPB Dual Mandate and Economic Analysis Act
Sponsors
Rep. Tom Emmer [R-MN] | Rep. Robert Pittenger [R-NC] | Rep. Garland Barr [R-KY] | Rep. Randy Neugebauer [R-TX] |
Rep. Steve Stivers [R-OH] |
History
Date | Chamber | Action |
---|---|---|
2016-05-12 | House | Referred to the House Committee on Financial Services. |
2016-05-12 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Competition and antitrust
Consumer credit
Consumer Financial Protection Bureau
Economic performance and conditions
Executive agency funding and structure
Finance and financial sector
Financial services and investments
Performance measurement
Banking and financial institutions regulation
Competition and antitrust
Consumer credit
Consumer Financial Protection Bureau
Economic performance and conditions
Executive agency funding and structure
Finance and financial sector
Financial services and investments
Performance measurement
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/house-bill/5211/all-info |
Text | https://www.congress.gov/114/bills/hr5211/BILLS-114hr5211ih.pdf |