I 
112TH CONGRESS 
1ST SESSION H. R. 1355 
To amend the Consumer Financial Protection Act of 2010 to move the 
Bureau of Consumer Financial Protection into the Department of the 
Treasury. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 4, 2011 
Mr. NEUGEBAUER (for himself, Mrs. CAPITO, and Mr. CANSECO) 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 move the Bureau of Consumer Financial Protection 
into the Department of the Treasury. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Bureau of Consumer 
Financial Protection Accountability and Transparency Act 
of 2011’’. 
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SEC. 2. MOVING THE BUREAU FROM THE FEDERAL RE-
SERVE TO THE TREASURY. 
The Consumer Financial Protection Act of 2010 is 
amended— 
(1) in section 1011— 
(A) in subsection (a)— 
(i) by striking ‘‘independent’’; and 
(ii) by striking ‘‘Federal Reserve Sys-
tem’’ and inserting ‘‘Department of the 
Treasury’’; and 
(B) in subsection (e), by striking ‘‘, includ-
ing in cities in which the Federal reserve banks, 
or branches of such banks, are located,’’; 
(2) in section 1012(c), by striking paragraphs 
(2), (3), (4), and (5); 
(3) in section 1013(a)— 
(A) by amending paragraph (2) to read as 
follows: 
‘‘(2) COMPENSATION.—The rates of basic pay 
for all employees of the Bureau shall be set and ad-
justed by the Director in accordance with the Gen-
eral Schedule set forth in section 5332 of title 5, 
United States Code.’’; and 
(B) by striking paragraph (3); and 
(4) in section 1014(b), by striking ‘‘Not fewer 
than 6 members shall be appointed upon the rec-
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ommendation of the regional Federal Reserve Bank 
Presidents, on a rotating basis.’’. 
SEC. 3. BRINGING THE BUREAU INTO THE REGULAR AP-
PROPRIATIONS PROCESS. 
Section 1017 of the Consumer Financial Protection 
Act of 2010 is amended— 
(1) in subsection (a)— 
(A) by amending the heading of such sub-
section to read as follows: ‘‘BUDGET, FINAN-
CIAL MANAGEMENT, AND AUDIT.—’’; 
(B) by striking paragraphs (1), (2), and 
(3); 
(C) by redesignating paragraphs (4) and 
(5) as paragraphs (1) and (2), respectively; and 
(D) by striking subparagraphs (E) and (F) 
of paragraph (1), as so redesignated; 
(2) by striking subsections (b), (c), and (d); 
(3) by redesignating subsection (e) as sub-
section (b); and 
(4) in subsection (b), as so redesignated— 
(A) by striking paragraphs (1), (2), and 
(3) and inserting the following: 
‘‘(1) AUTHORIZATION
OF
APPROPRIATIONS.— 
There 
is 
authorized 
to 
be 
appropriated 
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$200,000,000 to carry out this title for each of fiscal 
years 2011 and 2012.’’; and 
(B) by redesignating paragraph (4) as 
paragraph (2). 
Æ 
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