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Consumer Financial Protection Bureau (CFPB) Financial Services Committee Proposed Legislation

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Budget bill would cut CFPB funding

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The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more

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House subcommittee discusses CFPB reform proposals

On March 9, the House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy held a hearing to discuss proposals that would alter the structure and authority of the CFPB. The subcommittee...more

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CFPB issues Spring 2019 semi-annual report; Director Kraninger to appear before House Financial Services Committee on Oct. 16 and...

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CFPB recently issued its Spring 2019 Semi-Annual Report to Congress covering the period October 1, 2018 through March 31, 2019. The report represents the CFPB’s second semi-annual report under Director Kraninger’s...more

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House Financial Services Committee passes more credit reporting bills

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Three more bills dealing with credit reporting were passed on Tuesday by the House Financial Services Committee.  Like the four bills passed by the Committee last week, none of the bills passed yesterday received any...more

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House Financial Services Committee passes credit reporting bills

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Four bills dealing with credit reporting were passed last Thursday by the House Financial Services Committee.  While there has been bipartisan support for credit reporting reform, none of the bills received any Republican...more

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House Financial Services Committee passes Consumers First Act

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On March 28, 2019, the House Financial Services Committee passed H.R. 1500, the Consumers First Act, by a 34-26 vote. The bill is intended to reverse various actions taken by Mick Mulvaney during his tenure as CFPB Acting...more

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House Committee Okays Bill to Amend FDCPA to Exclude Law Firms from Definition of “Debt Collector”

The House Financial Services Committee voted 35-25 on March 21, 2018 to advance H.R. 5082, officially known as the “Practice of Law Technical Clarification Act of 2018,” to the full House of Representatives. The bill, if...more

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House Financial Services Committee passes bill to ease restrictions on bank small-dollar loans

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Earlier this week, by a party-line 34-26 vote, the House Financial Services Committee passed H.R. 4861, a bill seemingly intended to ease restrictions on short-term, small-dollar loans made by depository institutions. ...more

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House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

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Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

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Your Daily Dose of Financial News

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We’ve mentioned Uber’s Greyball issues before in passing. But since the authorities are literally making a Federal case out of it, you should probably know more about the details if the software tool that has the...more

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Democratic leadership plans to oppose change in CFPB structure

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As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up.  American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated...more

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Congressman introduces fintech bill

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Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more

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House Committee approves Dodd-Frank replacement bill

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By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more

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House Committee holds markup of CFPB bills

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On Tuesday, June 10, the House Financial Services Committee held a markup to discuss several bills designed to promote greater transparency and accountability at the CFPB. In his opening statement, Chairman Hensarling...more

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House to hold full Committee markup

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The House Financial Services Committee will hold a markup this Tuesday, June 10. The full Committee will meet to discuss several bills, including some relating to the CFPB that were discussed at the Committee’s last hearing...more

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