section the Chair shall be governed by general poli-
cies of the Commission and by such regulatory deci-
sions, findings, and determinations as the Commis-
sion may by law be authorized to make. 
‘‘(4) REQUESTS
OR
ESTIMATES
RELATED
TO 
APPROPRIATIONS.—Requests or estimates for reg-
ular, supplemental, or deficiency appropriations on 
behalf of the Commission may not be submitted by 
the Chair without the prior approval of the Commis-
sion. 
‘‘(f) NO IMPAIRMENT BY REASON OF VACANCIES.— 
No vacancy in the members of the Commission shall im-
pair the right of the remaining members of the Commis-
sion to exercise all the powers of the Commission. Three 
members of the Commission shall constitute a quorum for 
the transaction of business, except that if there are only 
3 members serving on the Commission because of vacan-
cies in the Commission, 2 members of the Commission 
shall constitute a quorum for the transaction of business. 
If there are only 2 members serving on the Commission 
because of vacancies in the Commission, 2 members shall 
constitute a quorum for the 6-month period beginning on 
the date of the vacancy which caused the number of Com-
mission members to decline to 2. 
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‘‘(g) SEAL.—The Commission shall have an official 
seal. 
‘‘(h) COMPENSATION.— 
‘‘(1) CHAIR.—The Chair shall receive com-
pensation at the rate prescribed for level I of the 
Executive Schedule under section 5313 of title 5, 
United States Code. 
‘‘(2) OTHER MEMBERS OF THE COMMISSION.— 
The 4 other members of the Commission shall each 
receive compensation at the rate prescribed for level 
II of the Executive Schedule under section 5314 of 
title 5, United States Code. 
‘‘(i) INITIAL QUORUM ESTABLISHED.—During any 
time period prior to the confirmation of at least two mem-
bers of the Commission, one member of the Commission 
shall constitute a quorum for the transaction of business. 
Following the confirmation of at least 2 additional com-
missioners, the quorum requirements of subsection (f) 
shall apply.’’; 
(2) in section 1012(c), by striking paragraphs 
(2), (3), (4), and (5); and 
(3) in section 1014(b), by striking ‘‘Not fewer 
than 6 members shall be appointed upon the rec-
ommendation of the regional Federal Reserve Bank 
Presidents, on a rotating basis.’’. 
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SEC. 3. DEEMING OF NAME. 
Any reference in a law, regulation, document, paper, 
or other record of the United States to the Bureau of Con-
sumer Financial Protection shall be deemed a reference 
to the Financial Product Safety Commission. 
SEC. 4. CONFORMING AMENDMENTS. 
(a) CONSUMER FINANCIAL PROTECTION ACT
OF 
2010.— 
(1) IN GENERAL.—Except as provided under 
paragraph (2), the Consumer Financial Protection 
Act of 2010 (12 U.S.C. 5481 et seq.) is amended— 
(A) by striking ‘‘Director of the Bureau’’ 
each place such term appears, other than where 
such term is used to refer to a Director other 
than the Director of the Bureau of Consumer 
Financial Protection, and inserting ‘‘Financial 
Product Safety Commission’’; 
(B) by striking ‘‘Director’’ each place such 
term appears and inserting ‘‘Financial Product 
Safety Commission’’, other than where such 
term is used to refer to a Director other than 
the Director of the Bureau of Consumer Finan-
cial Protection; and 
(C) in section 1002, by striking paragraph 
(10). 
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(2) EXCEPTIONS.—The Consumer Financial 
Protection Act of 2010 (12 U.S.C. 5481 et seq.) is 
amended— 
(A) in section 1013(c)(3)— 
(i) by striking ‘‘Assistant Director of 
the Bureau for’’ and inserting ‘‘Head of 
the Office of’’; and 
(ii) in subparagraph (B), by striking 
‘‘Assistant Director’’ and inserting ‘‘Head 
of the Office’’; 
(B) in section 1013(g)(2)— 
(i) by striking ‘‘ASSISTANT
DIREC-
TOR’’ and inserting ‘‘HEAD OF THE OF-
FICE’’; and 
(ii) by striking ‘‘an assistant director’’ 
and inserting ‘‘a Head of the Office of Fi-
nancial Protection for Older Americans’’; 
(C) in section 1016(a), by striking ‘‘Direc-
tor of the Bureau’’ and inserting ‘‘Chair of the 
Financial Product Safety Commission’’; and 
(D) in section 1066(a), by striking ‘‘Direc-
tor of the Bureau is’’ and inserting ‘‘first mem-
ber of the Commission is’’. 
(b) DODD-FRANK WALL STREET REFORM AND CON-
SUMER PROTECTION ACT.—The Dodd-Frank Wall Street 
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Reform and Consumer Protection Act (12 U.S.C. 5301 
et seq.) is amended— 
(1) in section 111(b)(1)(D), by striking ‘‘Direc-
tor’’ and inserting ‘‘Chair of the Financial Product 
Safety Commission’’; and 
(2) in section 1447, by striking ‘‘Director of the 
Bureau’’ each place such term appears and inserting 
‘‘Financial Product Safety Commission’’. 
(c) ELECTRONIC FUND TRANSFER ACT.—Section 
920(a)(4)(C) of the Electronic Fund Transfer Act (15 
U.S.C. 1693o–2(a)(4)(C)), as added by section 1075(a)(2) 
of the Consumer Financial Protection Act of 2010, is 
amended by striking ‘‘Director of the Bureau of Consumer 
Financial Protection’’ and inserting ‘‘Financial Product 
Safety Commission’’. 
(d) EXPEDITED FUNDS AVAILABILITY ACT.—The 
Expedited Funds Availability Act (12 U.S.C. 4001 et 
seq.), as amended by section 1086 of the Consumer Finan-
cial Protection Act of 2010, is amended by striking ‘‘Di-
rector of the Bureau’’ each place such term appears and 
inserting ‘‘Financial Product Safety Commission’’. 
(e) FEDERAL DEPOSIT INSURANCE ACT.—Section 2 
of the Federal Deposit Insurance Act (12 U.S.C. 1812), 
as amended by section 336(a) of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act, is amended 
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by striking ‘‘Director of the Consumer Financial Protec-
tion Bureau’’ each place such term appears and inserting 
‘‘Chair of the Financial Product Safety Commission’’. 
(f) FEDERAL FINANCIAL INSTITUTIONS EXAMINA-
TION COUNCIL ACT OF 1978.—Section 1004(a)(4) of the 
Federal Financial Institutions Examination Council Act of 
1978 (12 U.S.C. 3303(a)(4)), as amended by section 1091 
of the Consumer Financial Protection Act of 2010, is 
amended by striking ‘‘Director of the Consumer Financial 
Protection Bureau’’ and inserting ‘‘Chair of the Financial 
Product Safety Commission’’. 
(g) FINANCIAL
LITERACY
AND
EDUCATION
IM-
PROVEMENT ACT.—Section 513 of the Financial Literacy 
and Education Improvement Act (20 U.S.C. 9702), as 
amended by section 1013(d)(5) of the Consumer Financial 
Protection Act of 2010, is amended by striking ‘‘Director’’ 
each place such term appears and inserting ‘‘Chair of the 
Financial Product Safety Commission’’. 
(h) HOME MORTGAGE DISCLOSURE ACT OF 1975.— 
Section 307 of the Home Mortgage Disclosure Act of 
1975, as amended by section 1094(6) of the Consumer 
Financial Protection Act of 2010, is amended by striking 
‘‘Director of the Bureau of Consumer Financial Protec-
tion’’ each place such term appears and inserting ‘‘Finan-
cial Product Safety Commission’’. 
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(i) INTERSTATE LAND SALES FULL DISCLOSURE 
ACT.—The Interstate Land Sales Full Disclosure Act, as 
amended by section 1098A of the Consumer Financial 
Protection Act of 2010, is amended— 
(1) by amending section 1402(1) to read as fol-
lows: 
‘‘(1) ‘Chair’ means the Chair of the Financial 
Product Safety Commission;’’; and 
(2) in section 1416(a), by striking ‘‘Director of 
the Bureau of Consumer Financial Protection’’ and 
inserting ‘‘Chair’’. 
(j) REAL ESTATE SETTLEMENT PROCEDURES ACT 
OF 1974.—Section 5 of the Real Estate Settlement Proce-
dures Act of 1974 (12 U.S.C. 2604), as amended by sec-
tion 1450 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act, is amended— 
(1) by striking ‘‘The Director of the Bureau of 
Consumer Financial Protection (hereafter in this 
section referred to as the ‘Director’)’’ and inserting 
‘‘The Financial Product Safety Commission’’; and 
(2) by striking ‘‘Director’’ each place such term 
appears and inserting ‘‘Financial Product Safety 
Commission’’. 
(k) S.A.F.E. MORTGAGE LICENSING ACT OF 2008.— 
The S.A.F.E. Mortgage Licensing Act of 2008 (12 U.S.C. 
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