US HB6116 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 26-0)
Status: Introduced on March 5 2020 - 25% progression, died in committee
Action: 2020-03-05 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 5 2020 - 25% progression, died in committee
Action: 2020-03-05 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Consumer Financial Protection Commission Act
Sponsors
| Rep. Blaine Luetkemeyer [R-MO] | Rep. Patrick McHenry [R-NC] | Rep. Frank Lucas [R-OK] | Rep. Bill Posey [R-FL] |
| Rep. Bill Huizenga [R-MI] | Rep. Steve Stivers [R-OH] | Rep. Ann Wagner [R-MO] | Rep. Garland Barr [R-KY] |
| Rep. Lee Zeldin [R-NY] | Rep. Alexander Mooney [R-WV] | Rep. Scott Tipton [R-CO] | Rep. William Timmons [R-SC] |
| Rep. David Kustoff [R-TN] | Sen. Ted Budd [R-NC] | Rep. Barry Loudermilk [R-GA] | Rep. Tom Emmer [R-MN] |
| Rep. Lance Gooden [R-TX] | Rep. Trey Hollingsworth [R-IN] | Rep. Anthony Gonzalez [R-OH] | Rep. John Rose [R-TN] |
| Rep. Bryan Steil [R-WI] | Rep. Denver Riggleman [R-VA] | Rep. Warren Davidson [R-OH] | Rep. Nicholas Taylor [R-TX] |
| Rep. French Hill [R-AR] | Rep. Roger Williams [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-03-05 | House | Referred to the House Committee on Financial Services. |
| 2020-03-05 | House | Introduced in House |
Same As/Similar To
SB3990 (Related) 2020-06-17 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Appropriations
Banking and financial institutions regulation
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Executive agency funding and structure
Federal officials
Federal Reserve System
Finance and financial sector
Financial services and investments
Banking and financial institutions regulation
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Executive agency funding and structure
Federal officials
Federal Reserve System
Finance and financial sector
Financial services and investments
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/6116/all-info |
| Text | https://www.congress.gov/116/bills/hr6116/BILLS-116hr6116ih.pdf |
