H.R.1705 - Financial Product Safety Commission Act of 2009

To create a Financial Product Safety Commission, to provide consumers with stronger protections and better information in connection with consumer financial products, and to give providers of consumer financial products more regulatory certainty. view all titles (2)

All Bill Titles

  • Short: Financial Product Safety Commission Act of 2009 as introduced.
  • Official: To create a Financial Product Safety Commission, to provide consumers with stronger protections and better information in connection with consumer financial products, and to give providers of consumer financial products more regulatory certainty. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/25/09
 
 
 
 
 
 
 

Official Summary

Financial Product Safety Commission Act of 2009 - Establishes the Financial Product Safety Commission to: (1) promulgate consumer financial product safety rules; (2) establish a best practices guide for all providers of consumer financial products; (3) conduct continuing studies and investi

Official Summary

Financial Product Safety Commission Act of 2009 - Establishes the Financial Product Safety Commission to:
(1) promulgate consumer financial product safety rules;
(2) establish a best practices guide for all providers of consumer financial products;
(3) conduct continuing studies and investigations of consumer financial products industry practices;
(4) award grants or enter into contracts for the conduct of such studies and investigations;
(5) assist public and private organizations or groups of consumer financial product providers, administratively and technically, in the development of safety standards or guidelines that would assist them in complying with any Commission rule;
(6) comment on selected agency rulemakings affecting consumer financial products; and
(7) establish a consumer financial product customer hotline.

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