CFPB Slush Fund Elimination Act of 2013

3/14/2024, 12:48 PM
Congress
113
Number
HR - 3389
Introduced on
2013-10-30
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

10/30/2013
Text
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Related

Member:  
Sean P. Duffy
Member:  
Spencer Bachus
Member:  
Lynn A. Westmoreland
Member:  
John Campbell
Member:  
Michele Bachmann
Member:  
Keith J. Rothfus
Member:  
Robert Pittenger
Member:  
Scott Garrett

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

CFPB Slush Fund Elimination Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to repeal the Consumer Financial Civil Penalty Fund, into which are deposited any civil penalties paid in judicial or administrative actions under federal consumer financial laws.

Requires the Board of Governors of the Federal Reserve System to deposit all such civil penalties, and all amounts currently in the Civil Penalty Fund, into the Treasury's general fund.

Alternative Names
Official Title as IntroducedTo repeal the Consumer Financial Civil Penalty Fund and to deposit existing amounts in such Fund into the Treasury, and for other purposes.
Policy Areas
Finance and Financial Sector
Potential Impact
Civil actions and liability•
Consumer affairs•
Financial services and investments•
Government trust funds

Comments

Recent Activity

Latest Summary12/2/2013

CFPB Slush Fund Elimination Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to repeal the Consumer Financial Civil Penalty Fund, into which are deposited any civil penalties paid in judicial or administrative actions under fede...

Latest Action6/11/2014
Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 27.