Reforming CFPB Indirect Auto Financing Guidance Act

Hozzl · 2023-01-11T13:27:44Z

Explore the details of House Bill 1737 Reforming CFPB Indirect Auto Financing Guidance Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/11/2023, 1:27 PM

Congressional Summary of HR 1737

Reforming CFPB Indirect Auto Financing Guidance Act

(Sec. 2) Declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.

(Sec. 3) Amends the Consumer Financial Protection Act of 2010 to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:

provide for a public notice and comment period before issuing the guidance in final form;
make publicly available all information relied on by the CFPB;
redact any information exempt from disclosure under the Freedom of Information Act;
consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and
study the costs and impacts of the guidance to consumers and women-owned, minority-owned, veteran-owned, and small businesses, including consumers and small businesses in rural areas.

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Current Status of Bill HR 1737

Bill HR 1737 is currently in the status of Bill Introduced since April 13, 2015. Bill HR 1737 was introduced during Congress 114 and was introduced to the House on April 13, 2015. Bill HR 1737's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of November 19, 2015

Bipartisan Support of Bill HR 1737

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

166

Democrat Cosponsors

Republican Cosponsors

101

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 1737

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Administrative law and regulatory proceduresBanking and financial institutions regulationConsumer Financial Protection BureauConsumer affairsConsumer creditFinancial services and investmentsGovernment information and archivesGovernment studies and investigationsMinority and disadvantaged businessesMotor vehiclesRural conditions and developmentSmall businessVeterans' education, employment, rehabilitationWomen in business

Alternate Title(s) of Bill HR 1737

Reforming CFPB Indirect Auto Financing Guidance ActTo nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending.Reforming CFPB Indirect Auto Financing Guidance ActReforming CFPB Indirect Auto Financing Guidance ActReforming CFPB Indirect Auto Financing Guidance Act

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