Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013

3/14/2024, 12:48 PM

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to: (1) remove the Consumer Financial Protection Bureau (CFPB) from the Federal Reserve System, and (2) repeal the authority of the CFPB Director to establish CFPB regional offices in cities in which are located either Federal Reserve Banks or their branches.

Repeals the mandatory annual transfer of funds to the CFPB from the Board of Governors of the Federal Reserve System. Subjects the CFPB to the regular authorization, budget, and appropriations process of the Department of the Treasury.

Repeals establishment of the CFPB Fund.

Revises authorization of appropriations for FY2010-FY2014 with an authorization for each of FY2014 and FY2015.

Congress
113

Number
HR - 3519

Introduced on
2013-11-18

# Amendments
0

Sponsors
+5

Variations and Revisions

2/6/2014

Status of Legislation

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

Purpose and Summary

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to: (1) remove the Consumer Financial Protection Bureau (CFPB) from the Federal Reserve System, and (2) repeal the authority of the CFPB Director to establish CFPB regional offices in cities in which are located either Federal Reserve Banks or their branches.

Repeals the mandatory annual transfer of funds to the CFPB from the Board of Governors of the Federal Reserve System. Subjects the CFPB to the regular authorization, budget, and appropriations process of the Department of the Treasury.

Repeals establishment of the CFPB Fund.

Revises authorization of appropriations for FY2010-FY2014 with an authorization for each of FY2014 and FY2015.

Alternative Names
Official Title as IntroducedTo amend the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent agency.

Policy Areas
Finance and Financial Sector

Potential Impact
Appropriations•
Consumer Financial Protection Bureau•
Consumer affairs•
Executive agency funding and structure•
Federal Reserve System•
Financial services and investments

Comments

Recent Activity

Latest Summary4/11/2014

Bureau of Consumer Financial Protection Accountability and Transparency Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to: (1) remove the Consumer Financial Protection Bureau (CFPB) from the Federal Reserve System, and (2) re...


Latest Action2/6/2014
Placed on the Union Calendar, Calendar No. 257.