Consumer Financial Protection Commission Act

House Bill 6116 - Consumer Financial Protection Commission Act: Overview, Status, and Impact

Hozzl · 2022-03-02T16:21:34Z

Explore the details of House Bill 6116 Consumer Financial Protection Commission 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.

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.

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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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6116

Primary Policy Focus

Finance and Financial Sector

Potential 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