I 

113TH CONGRESS 

2D SESSION H. R. 4383 

To amend the Consumer Financial Protection Act of 2010 to establish a 

Small Business Advisory Board, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 3, 2014 

Mr. PITTENGER (for himself and Mr. HECK of Washington) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To amend the Consumer Financial Protection Act of 2010 

to establish a Small Business Advisory Board, and for 

other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Bureau of Consumer 

5 Financial Protection Small Business Advisory Board 

6 Act’’. 


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1 SEC. 2. ESTABLISHMENT OF A SMALL BUSINESS ADVISORY 

2 BOARD WITHIN THE BUREAU OF CONSUMER 

3 FINANCIAL PROTECTION. 

4 (a) IN GENERAL.—The Consumer Financial Protec5 tion Act of 2010 is amended by inserting after section 

6 1014 (12 U.S.C. 5494) the following new section: 

7 ‘‘SEC. 1014A. SMALL BUSINESS ADVISORY BOARD. 

8 ‘‘(a) ESTABLISHMENT.—The Director shall establish 

9 a Small Business Advisory Board— 

10 ‘‘(1) to advise and consult with the Bureau in 

11 the exercise of the Bureau’s functions under the 

12 Federal consumer financial laws applicable to eligi13 ble financial products or services; and 

14 ‘‘(2) to provide information on emerging prac15 tices of small business concerns that provide eligible 

16 financial products or services, including regional 

17 trends, concerns, and other relevant information. 

18 ‘‘(b) MEMBERSHIP.— 

19 ‘‘(1) NUMBER.—The Director shall appoint no 

20 fewer than 12 members to the Small Business Advi21 sory Board. 

22 ‘‘(2) QUALIFICATION.—Members appointed pur23 suant to paragraph (1) shall be representatives of 

24 small business concerns that provide eligible finan25 cial products or services. 


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1 ‘‘(c) MEETINGS.—The Small Business Advisory 

2 Board— 

3 ‘‘(1) shall meet from time to time at the call of 

4 the Director; and 

5 ‘‘(2) shall meet at least twice each year. 

6 ‘‘(d) COMPENSATION AND TRAVEL EXPENSES.— 

7 Members of the Small Business Advisory Board who are 

8 not full-time employees of the United States shall— 

9 ‘‘(1) be entitled to receive compensation at a 

10 rate fixed by the Director while attending meetings 

11 of the Small Business Advisory Board, including 

12 travel time; and 

13 ‘‘(2) be allowed travel expenses, including trans14 portation and subsistence, while away from their 

15 homes or regular places of business. 

16 ‘‘(e) DEFINITIONS.—In this section— 

17 ‘‘(1) the term ‘eligible financial product or serv18 ice’ means a financial product or service that is of19 fered or provided for use by consumers primarily for 

20 personal, family, or household purposes as described 

21 in clause (i), (iii), (v), (vi), or (ix) of section 

22 1002(15)(A); and 

23 ‘‘(2) the term ‘small business concern’ has the 

24 meaning given such term in section 3 of the Small 

25 Business Act (15 U.S.C. 632).’’. 


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1 (b) TABLE OF CONTENTS AMENDMENT.—The table 

2 of contents of the Dodd-Frank Wall Street Reform and 

3 Consumer Protection Act (12 U.S.C. 5301 et seq.) is 

4 amended by inserting after the item related to section 

5 1014 the following new item: 

‘‘Sec. 1014A. Small Business Advisory Board.’’. 

Æ 


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