H.R.1121 - Responsible Consumer Financial Protection Regulations Act of 2011

To replace the Director of the Bureau of Consumer Financial Protection with a five person Commission. view all titles (3)

All Bill Titles

  • Official: To replace the Director of the Bureau of Consumer Financial Protection with a five person Commission. as introduced.
  • Short: Responsible Consumer Financial Protection Regulations Act of 2011 as introduced.
  • Short: Responsible Consumer Financial Protection Regulations Act of 2011 as reported to house.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/16/11
 
 
 
 
 
 
 

Sponsor

Representative

Spencer Bachus

R-AL

View Co-Sponsors (35)

Official Summary

Responsible Consumer Financial Protection Regulations Act of 2011 - Amends the Consumer Financial Protection Act of 2010, (title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act), to replace the position of Director of the Bureau of Consumer Financial Protection with a fiv

Official Summary

Responsible Consumer Financial Protection Regulations Act of 2011 - Amends the Consumer Financial Protection Act of 2010, (title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act), to replace the position of Director of the Bureau of Consumer Financial Protection with a five-member Commission composed of the Vice Chairman for Supervision of the Federal Reserve System and four additional members appointed by the President, with the advice and consent of the Senate, from among individuals who should want to protect service members and their families who are sacrificing their lives for this country from abusive financial practices. Prohibits Commission members from engaging in any other business, vocation, or employment. Requires one member of the Commission to exercise primary responsibility for the Bureau's oversight activities pertaining to protecting consumers, with a focus on consumers who are older, minorities, youth, or veterans, from unfair, deceptive, and abusive lending practices. Prohibits the Chair of the Commission from making requests for estimates related to appropriations without prior Commission approval.

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Organizations Supporting H.R.1121

  • American Bankers Association
  • Consumer Bankers Association
  • Independent Community Bankers of America
  • National Association of Federal Credit Unions
  • American Financial Services Association
  • Mortgage Bankers Association
  • ...and 2 more. See all.

Organizations Opposing H.R.1121

  • NAACP
  • AFL-CIO
  • American Sustainable Business Council
  • Business for Shared Prosperity
  • Center for Digital Democracy
  • Center for Media and Democracy
  • ...and 36 more. See all.




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