S.737 - Responsible Consumer Financial Protection Regulations Act of 2011

A bill to replace the Director of the Bureau of Consumer Financial Protection with a 5-person Commission, to bring the Bureau into the regular appropriations process, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to replace the Director of the Bureau of Consumer Financial Protection with a 5-person Commission, to bring the Bureau into the regular appropriations process, and for other purposes. as introduced.
  • Short: Responsible Consumer Financial Protection Regulations Act of 2011 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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04/06/11
 
 
 
 
 
 
 

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-

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 whose members are appointed by the President, by and with the advice and consent of the Senate. Prohibits the Chair of the Commission from making requests for estimates related to appropriations without the prior approval of the Commission. Revises procedures for funding the Bureau. Eliminates the Consumer Financial Protection Fund and the requirement that the Board of Governors of the Federal Reserve System transfer funds to the Bureau from the combined earnings of the Federal Reserve System. Authorizes appropriations for FY2011-FY2012.

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Organizations Supporting S.737

  • Consumer Bankers Association
  • Mortgage Bankers Association
  • National Association of Federal Credit Unions
  • U. S. Chamber of Commerce
  • Independent Community Bankers of America
  • American Bankers Association
  • ...and 1 more. See all.

Organizations Opposing S.737

  • NAACP
  • Public Citizen
  • Consumers Union
  • AFL-CIO
  • International Brotherhood of Teamsters
  • Consumer Federation of America
  • ...and 35 more. See all.


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