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Consumer Financial Protection Commission Act
3/2/2022, 4:21 PM
Congressional Summary of HR 6116
Consumer Financial Protection Commission Act
This bill removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.
Read the Full Bill
Current Status of Bill HR 6116
Bill HR 6116 is currently in the status of Bill Introduced since March 5, 2020. Bill HR 6116 was introduced during Congress 116 and was introduced to the House on March 5, 2020. Bill HR 6116's most recent activity was Referred to the House Committee on Financial Services. as of March 5, 2020
Bipartisan Support of Bill HR 6116
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
25Democrat Cosponsors
0Republican Cosponsors
25Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6116
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Appropriations
- Banking and financial institutions regulation
- Consumer Financial Protection Bureau
- Consumer affairs
- Consumer credit
- Executive agency funding and structure
- Federal Reserve System
- Federal officials
- Financial services and investments
Alternate Title(s) of Bill HR 6116
Consumer Financial Protection Commission Act
To amend the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent Consumer Financial Protection Commission, and for other purposes.
Consumer Financial Protection Commission Act
Comments
Sponsors and Cosponsors of HR 6116
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