IIB 
116TH CONGRESS 
1ST SESSION H. R. 1500 
IN THE SENATE OF THE UNITED STATES 
MAY 23 (legislative day, MAY 22), 2019 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To require the Consumer Financial Protection Bureau to 
meet its statutory purpose, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Consumers First Act’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
Sec. 1. Short title; table of contents. 
Sec. 2. Findings; sense of Congress. 
Sec. 3. Consumer Financial Protection Bureau. 
Sec. 4. Conforming amendments. 
Sec. 5. Executive and administration powers. 
Sec. 6. Offices of the Consumer Financial Protection Bureau. 
Sec. 7. Consumer Advisory Board reforms. 
Sec. 8. Discretionary surplus funds. 
Sec. 9. Modification of the exemption from certain disclosure requirements. 
Sec. 10. Limitation on providing exemptions from HMDA reporting require-
ments. 
Sec. 11. Limitation on modifying HMDA data fields. 
Sec. 12. Maintaining the HMDA Explorer tool and the Public Data Platform 
API. 
Sec. 13. Report on fair lending investigations and enforcement actions. 
Sec. 14. Debt collection. 
Sec. 15. Credit scores included in free annual disclosures. 
Sec. 16. Report on senior consumers. 
Sec. 17. Report on payday loan and car-title loan investigations and enforce-
ment actions. 
Sec. 18. Effective date. 
SEC. 2. FINDINGS; SENSE OF CONGRESS. 
(a) FINDINGS.—The Congress finds the following: 
(1) The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Public Law 111–203) 
(‘‘Dodd-Frank’’), was signed into law on July 21, 
2010, in order to, among other things, advance the 
goals of protecting consumers from predatory finan-
cial services practices and products that led to the 
2007–2009 financial crisis. 
(2) Title X of Dodd-Frank established a new 
Federal independent watchdog, known as the Con-
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sumer Financial Protection Bureau (‘‘Consumer Bu-
reau’’), with broad authority to ensure that all hard-
working consumers are given clear, accurate infor-
mation that they need to shop for mortgages, credit 
cards, and other consumer financial products or 
services and to protect consumers from hidden fees, 
abusive terms, and other unfair, deceptive, or abu-
sive acts or practices through strong implementation 
and enforcement of Federal consumer financial laws. 
(3) Before the Consumer Bureau was estab-
lished, Federal financial regulators were tasked with 
the dual responsibilities of supervising institutions 
for safety and soundness and compliance with con-
sumer protections under Federal consumer financial 
laws. These agencies often prioritized the profit-
ability of their regulated entities over the protection 
of consumers, even when institutions were found to 
have engaged in practices detrimental to their own 
customers’ financial well-being. 
(4) Congress purposefully created the inde-
pendent Consumer Bureau within the Federal Re-
serve System to address past regulatory gaps in our 
country’s financial regulatory regime—gaps that re-
sulted in the most severe global financial crisis since 
the Great Depression. Among other things, Federal 
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financial regulators were too reluctant to exercise 
their rulemaking, supervisory, and enforcement au-
thorities to protect consumers from the misdeeds of 
the Consumer Bureau’s regulated entities. In cre-
ating the Consumer Bureau, Congress explicitly laid 
out in statute the Consumer Bureau’s purpose, five 
objectives, and six primary functions. Specifically: 
(A) Section 1021(a) of Dodd-Frank states 
that the Consumer Bureau, ‘‘shall seek to im-
plement and, where applicable, enforce Federal 
consumer financial law consistently for the pur-
pose of ensuring that all consumers have access 
to markets for consumer financial products and 
services and that markets for consumer finan-
cial products and services are fair, transparent, 
and competitive’’. 
(B) Section 1021(b) of Dodd-Frank au-
thorizes the Consumer Bureau, ‘‘to exercise its 
authorities under Federal consumer financial 
law for the purposes of ensuring that, with re-
spect to consumer financial products and serv-
ices—(1) consumers are provided with timely 
and understandable information to make re-
sponsible decisions about financial transactions; 
(2) consumers are protected from unfair, decep-
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tive, or abusive acts and practices and from dis-
crimination; (3) outdated, unnecessary, or un-
duly burdensome regulations are regularly iden-
tified and addressed in order to reduce unwar-
ranted regulatory burdens; (4) Federal con-
sumer financial law is enforced consistently, 
without regard to the status of a person as a 
depository institution, in order to promote fair 
competition; and (5) markets for consumer fi-
nancial products and services operate trans-
parently and efficiently to facilitate access and 
innovation.’’. 
(C) Section 1021(c) of Dodd-Frank estab-
lishes the primary functions of the Consumer 
Bureau to be, ‘‘(1) conducting financial edu-
cation programs; (2) collecting, investigating, 
and responding to consumer complaints; (3) col-
lecting, researching, monitoring, and publishing 
information relevant to the functioning of mar-
kets for consumer financial products and serv-
ices to identify risks to consumers and the 
proper functioning of such markets; (4) subject 
to sections 1024 through 1026, supervising cov-
ered persons for compliance with Federal con-
sumer financial law, and taking appropriate en-
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forcement action to address violations of Fed-
eral consumer financial law; (5) issuing rules, 
orders, and guidance implementing Federal con-
sumer financial law; and (6) performing such 
support activities as may be necessary or useful 
to facilitate the other functions of the Bu-
reau.’’. 
(5) In doing so, Congress explicitly laid out 
these consumer-focused purpose, objectives, and pri-
mary functions for the Consumer Bureau to ensure 
that all consumers and all communities are pro-
tected. This is of extreme importance to commu-
nities of color who have been disproportionately im-
pacted by the inequities of the financial system, re-
sulting in an extreme racial wealth divide. Decades 
of segregation and discrimination have prevented 
consumers of colors from amassing wealth equal to 
their white counterparts, while predatory financial 
practices of have stripped consumers of color of their 
nominal existing wealth. For example, over the past 
30 years, the average wealth of White families has 
grown by 84 percent—1.2 times the rate of growth 
for the Latino population and 3 times the rate of 
growth for the Black population. In light of histor-
ical practices and current-day disparities in banking 
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and lending practices, the Consumer Bureau plays a 
key role in protecting communities of color from 
wealth-stripping financial products and ensuring 
their right to wealth building opportunities. The 
agency’s enforcement actions in auto lending, mort-
gages, and credit cards, and its rulemaking efforts 
have sought to address the predatory financial prod-
ucts such as payday loans and prepaid cards that 
are prolific in communities of color. The Consumer 
Bureau is essential in protecting vulnerable commu-
nities from discriminatory financial practices that 
has both perpetuated and exacerbated the racial 
wealth gap. 
(6) Under Dodd-Frank, the Deputy Director of 
the Consumer Bureau shall serve as the Acting Di-
rector in the absence or unavailability of the Direc-
tor, until the President appoints and the Senate con-
firms a new Director. Despite the plain letter of the 
law establishing a succession order to fill a vacancy 
in the Director’s position and the clear legislative 
history underscoring the importance of having an 
independent Federal consumer-focused agency, when 
the Consumer Bureau Director Richard Cordray re-
signed in November 2017, President Trump refused 
to recognize the Deputy Director as the rightful 
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head of the agency and instead installed Mr. Mick 
Mulvaney, the Director of the White House Office of 
Management and Budget, to serve as the Consumer 
Bureau’s Acting Director. This appointment of a 
White House cabinet official to run the Consumer 
Bureau raises profound conflict of interest questions 
and undermines the vital independent nature of the 
agency. 
(7) Additionally, the position of Acting Director 
is, by its nature, intended to be a temporary assign-
ment to maintain the status quo at an agency and 
to ensure the agency is fulfilling its statutory pur-
pose and mandates, until the President appoints, 
and the Senate confirms a permanent Director. Nev-
ertheless, during his tenure, Mr. Mulvaney instituted 
drastic and severe changes to the Consumer Bu-
reau’s daily operations and priorities contrary to the 
agency’s statutory purpose and mandates. 
(8) The daily operations of a Federal agency 
are guided by its official mission contained in its 
long-term strategic plan. The Consumer Bureau’s 
mission should embrace both the spirit and plain let-
ter of the law by fully recognizing the agency’s stat-
utory purpose, objectives, and functions. It is trou-
bling that the Consumer Bureau, under Mr. 
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Mulvaney, issued a Strategic Plan for Fiscal Year 
(‘‘FY’’) 2018–FY 2022 that appears to deemphasize 
the Consumer Bureau’s core mandate under section 
1021(a) of Dodd-Frank to, ‘‘enforce Federal con-
sumer financial law consistently for the purpose of 
ensuring that all consumers have access to markets 
for consumer financial products and services’’, by 
not referencing the importance of enforcement in its 
mission. Instead, it emphasizes financial education 
by stating that the agency’s new mission is, ‘‘[t]o 
regulate the offering and provision of consumer fi-
nancial products or services under the Federal con-
sumer financial laws and to educate and empower 
consumers to make better informed financial deci-
sions’’. This is in stark contrast from the Consumer 
Bureau’s Strategic Plan for FY 2013–FY 2017, 
which stated that the agency’s mission is helping, 
‘‘consumer finance markets work by making rules 
more effective, by consistently and fairly enforcing 
those rules, and by empowering consumers to take 
more control over their economic lives’’. 
(9) Mr. Mulvaney has been praised by the 
White House for his efforts to undermine the Con-
sumer Bureau, with one anonymous advisor ac-
knowledging in a July 24, 2018, Politico article that, 
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‘‘His mission was to blow that up, which he has. He 
is very well-suited to the chaos.’’. Mr. Mulvaney’s 
misguided actions have included, among other 
things— 
(A) stopping payments from the Civil Pen-
alty Fund to harmed consumers; 
(B) trying to reduce the Consumer Bu-
reau’s funding and staffing by initially request-
ing $0 be transferred from the Federal Reserve 
Board of Governors to carry out the agency’s 
work, imposing a freeze on hiring professional 
career staff, and by arbitrarily directing staff to 
cut the agency’s budget by 1⁄5; 
(C) politicizing the work of the Consumer 
Bureau by making unusual efforts to fill the 
independent agency with political appointees; 
(D) reducing the Consumer Bureau’s en-
forcement work, including taking only six en-
forcement actions in the first three quarters of 
2018 (compared with 54 enforcement actions 
taken by the agency in 2015, 42 enforcement 
actions in 2016 and 36 enforcement actions in 
2017), and dropping existing lawsuits and in-
vestigations into predatory payday lenders; 
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(E) taking steps that would undermine ef-
forts to promote fair lending and combat dis-
criminatory practices, including by hiring, and 
later refusing to remove, a political appointee 
with a history of racist written commentary to 
oversee the Office of Supervision, Enforcement, 
and Fair Lending, stripping away the enforce-
ment powers of the Office of Fair Lending and 
Equal Opportunity, seeking to curb the Con-
sumer Bureau’s data collection under the Home 
Mortgage Disclosure Act, and indicating the 
Consumer Bureau would reconsider its ap-
proach toward enforcing the Equal Credit Op-
portunity Act; 
(F) changing the role of the Office of Stu-
dents and Young Consumers and, according to 
an August 27, 2018, resignation letter from 
Seth Frotman, the Consumer Bureau’s former 
Assistant Director and Student Loan Ombuds-
man, ‘‘when new evidence came to light showing 
that the nation’s largest banks were ripping off 
students on campuses across the country by 
saddling them with legally dubious account fees, 
Bureau leadership suppressed the publication of 
a report prepared by Bureau staff’’; 
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(G) abandoning the accepted and efficient 
practice of having its examiners review, as part 
of their routine examinations, creditors’ compli-
ance with the Military Lending Act in order to 
ensure the detection and assessment of risky 
activities that could jeopardize vital protections 
provided to active-duty servicemembers and 
their families; 
(H) creating an Office of Cost Benefit 
Analysis that prioritizes businesses’ expenses 
over harm caused to consumers, and unduly 
constrains oversight of the Consumer Bureau’s 
regulated entities; 
(I) freezing data collection to the detriment 
of supervision and enforcement; 
(J) seeking to block the publication of the 
nature of consumers’ complaints and how enti-
ties resolved them in the publicly available and 
transparent Consumer Complaint Database; 
(K) restricting key input and feedback 
from a wide range of external stakeholders by 
effectively terminating members’ positions on 
three advisory boards, including the statutorily 
mandated Consumer Advisory Board; 
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(L) proposing policies, including those re-
garding no-action letters, model disclosure pilot 
projects, and product sandboxes, that could put 
many kinds of financial institutions in an en-
forcement-free zone, letting bad actors that 
harm consumers off the hook entirely from en-
forcement, and allowing them to ignore the law; 
and 
(M) neglecting to impose promptly any 
civil money penalty on a bank when it was 
found to be, among other things, improperly ob-
taining consumer reports and furnishing to con-
sumer reporting agencies inaccurate informa-
tion about consumers’ credit. 
(10) The repeated efforts under Mr. Mulvaney’s 
leadership to hamstring the good work, passion, 
commitment, and the capacity of dedicated profes-
sional, career Consumer Bureau staff to fulfill the 
agency’s statutory mission has likely contributed to 
low employee morale. According to a government- 
wide annual survey published in December 2018 
that was conducted by the nonprofit, nonpartisan 
Partnership for Public Service, the Consumer Bu-
reau experienced the largest decline in employee mo-
rale for a government agency of its size. A workplace 
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with low morale undermines, among other things, 
the agency’s ability to hold bad actors accountable 
when they harm consumers, and if unaddressed, will 
distort the functioning of fair and competitive con-
sumer marketplaces. 
(11) Despite the fact that the agency has been 
referred to as the Consumer Financial Protection 
Bureau since it was created in 2010, Mr. Mulvaney 
opted to change the agency’s well-known name. Al-
though this decision is supposedly intended to ensure 
that the agency is in compliance with Dodd-Frank, 
when this change is viewed in conjunction with the 
other detrimental actions to undermine the effective-
ness of the agency, it can only be interpreted as an 
attempt to reduce the public’s awareness of, and sig-
nificant support for, the agency’s role as the top 
Federal consumer cop as well as to obscure the 
public’s ability to easily identify the appropriate 
Federal agency to contact when faced with predatory 
behavior by financial actors. As such, while some 
may view this particular decision as minor, the ac-
tion served as an important symbolic and literal ma-
neuver by the Trump Administration, through its 
appointment of Mr. Mulvaney, to diminish and un-
dermine the consumer-focused mission of the Con-
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sumer Bureau. Director Kathy Kraninger, who was 
duly nominated by the President and confirmed by 
the Senate, announced plans in an email to staff on 
December 19, 2018, to reverse course and return to 
utilizing the agency’s well-known name. However, 
questions remain regarding how this change will be 
implemented and to what extent the agency may 
continue to utilize Mr. Mulvaney’s preferred name in 
certain circumstances. 
(12) During Mr. Mulvaney’s more than 12- 
month tenure running the agency, he only appeared 
once before the House Financial Services Committee 
to discuss his activities at the Consumer Bureau. 
This is despite the fact that the law requires, at a 
minimum, the Director’s testimony before the Com-
mittee semi-annually. This weak congressional over-
sight under the direction of the previous Republican 
Majority pales in comparison to their oversight of 
the Consumer Bureau during former Director Rich-
ard Cordray’s tenure. During Director Cordray’s 
tenure, he and other senior Consumer Bureau offi-
cials testified before Congress more than 60 times; 
the agency was compelled to produce more than 
200,000 pages of documents in response to over 90 
letters of inquiry; more than 20 subpoenas were sent 
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to the Consumer Bureau; and several of the Con-
sumer Bureau’s former and current employees were 
compelled to sit for depositions over 21 days, that 
lasted 136 hours, and produced 3,194 pages of tran-
scripts. 
(13) Dodd-Frank gives the Director of the Con-
sumer Bureau broad administrative and executive 
powers to, among other things: fix the number of, 
and appoint and direct, all employees of the agency; 
direct the establishment and maintenance of divi-
sions or other offices within the agency; determine 
the character of, and the necessity for, the obliga-
tions and expenditure of funds; and the use and ex-
penditure of funds. These powers, however, are re-
quired to be exercised in a manner consistent with 
carrying out the responsibilities under Title X of 
Dodd-Frank, which includes complying with the enu-
merated Federal consumer financial laws under the 
Title, and satisfying the obligations in other applica-
ble laws. Mr. Mulvaney’s destructive actions have 
demonstrated the need for legislation to reorient the 
Director’s discretionary authority to ensure the 
maintenance of all statutorily mandated policies, 
functions, and offices of the Consumer Bureau re-
gardless of who is leading the agency. 
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(b) SENSE OF CONGRESS.—The following is the sense 
of Congress: 
(1) The Consumer Financial Protection Bureau 
should meet its statutory purpose in a transparent 
and accountable manner by operating in a way that 
is consistent with both the spirit and plain letter of 
the law. This includes the agency fully carrying out 
the agency’s statutory purpose, objectives, and func-
tions, and the agency being transparent, timely, and 
responsive to all requests from Congress. 
(2) Dodd-Frank underscores that the agency is 
designed to serve as an independent Federal agency 
that is primarily focused on the protection of all con-
sumers, without any undue influence of partisan 
whims and special industry interests, in carrying out 
its responsibilities and duties. 
(3) The official name of the agency should be 
consistent with this mandate, and the agency should, 
figuratively and literally, put ‘‘Consumers’’ first by 
using its better-known name as the ‘‘Consumer Fi-
nancial Protection Bureau’’. Thus, any remaining 
utilization by the agency of the name, ‘‘Bureau of 
Consumer Financial Protection’’, or the acronym 
‘‘BCFP’’, should cease in all forms. 
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(4) The statute establishing the Consumer Bu-
reau has been grossly misinterpreted under Mr. 
Mulvaney’s leadership, in a manner that is incon-
sistent with the agency’s statutory purpose, objec-
tives, and functions. One example of this was Mr. 
Mulvaney’s inane suggestion that the statutory re-
quirement for the Director to appear before relevant 
Congressional Committees to discuss its semi-annual 
reports could be interpreted as requiring the Direc-
tor merely to attend a hearing and not answer ques-
tions, despite the well-established interpretation of a 
similar statutory requirement for the Chair of the 
Federal Reserve Board of Governors to appear be-
fore the House Financial Services Committee and 
the Senate Banking, Housing, and Urban Affairs 
Committee on a semi-annual basis about the mone-
tary policy report, as required by the Humphrey- 
Hawkins Full Employment Act. In the face of such 
blatant and disrespectful attempts to warp the au-
thorizing and oversight role of the first branch of 
the Federal Government—the United States Con-
gress—by the Trump Administration, Congress 
must, in this instance, now refine the Consumer Bu-
reau’s authority to ensure that the vital role that the 
Consumer Bureau should be playing within the 
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country’s financial regulatory regime is not effec-
tively destroyed by the agency’s current leadership. 
(5) The Consumer Bureau, now under a new 
Director, should promptly reverse all anti-consumer 
actions taken during Mr. Mulvaney’s tenure, includ-
ing the actions identified by this legislation, to en-
sure that the agency is fully complying with its stat-
utory purpose, objectives, and functions to protect 
all consumers, including communities of color and 
vulnerable populations. One important action is for 
the Consumer Bureau to resume robust fair lending 
enforcement to ensure that every consumer has fair 
and equal access to affordable financial products and 
services. Another demonstration of this would be for 
the Consumer Bureau to immediately resume super-
vision of its regulated entities for compliance with 
the Military Lending Act to ensure for the most ro-
bust 
and 
efficient 
protection 
of 
active-duty 
servicemembers and their families. Other examples 
include the Consumer Bureau significantly revising 
its strategic plan to align it with its statutory pur-
pose, objectives and functions, and for the agency to 
immediately resume coordinating closely with other 
Federal agencies, such as the Department of Edu-
cation and the Department of Defense, and State 
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regulators, as is required by section 1015 of Dodd- 
Frank to, ‘‘promote consistent regulatory treatment 
of consumer financial and investment products and 
services.’’. 
(6) While the legislation is a direct response to 
address many of the misguided decisions that have 
been orchestrated under Mr. Mulvaney’s leadership 
at the Consumer Bureau that have been exposed to 
the public, as of the date of the bill’s introduction, 
and sharply criticized by numerous Federal and 
State officials, including law enforcement, as well as 
organizations representing servicemembers, senior 
citizens, and other vulnerable consumer populations, 
this legislation should not be viewed as an exhaus-
tive list to fix all the damaging actions that may 
have occurred at this agency since the departure of 
former Director Cordray in November 2017, particu-
larly since detailed information revealing the full 
scope, nature, and extent of the current flawed oper-
ation of the agency, and the adverse impact result-
ing from these actions, may not yet be publicly avail-
able. Rather, this legislation should be interpreted as 
an attempt to highlight and resolve a small sample 
of the publicly known egregious statements, deci-
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sions, and actions that have occurred since Novem-
ber 2017. 
SEC. 3. CONSUMER FINANCIAL PROTECTION BUREAU. 
(a) IN GENERAL.—Section 1011(a) of the Consumer 
Financial Protection Act of 2010 (12 U.S.C. 5491(a)) is 
amended by striking ‘‘Bureau of Consumer Financial Pro-
tection’’ and inserting ‘‘Consumer Financial Protection 
Bureau’’. 
(b) DEEMING OF NAME.—Any reference in any law, 
regulation, document, record, or other paper of the United 
States to the ‘‘Bureau of Consumer Financial Protection’’ 
shall be deemed a reference to the ‘‘Consumer Financial 
Protection Bureau’’. 
(c) NAME USE REQUIREMENT.—Section 1011 of the 
Consumer Financial Protection Act of 2010 (12 U.S.C. 
5491) is amended by adding at the end the following: 
‘‘(f) NAME USE REQUIREMENT.—The Consumer Fi-
nancial Protection Bureau shall refer to itself in any pub-
lic communication, including on any website, as the ‘Con-
sumer Financial Protection Bureau’ or the ‘CFPB’.’’. 
SEC. 4. CONFORMING AMENDMENTS. 
(a) IN GENERAL.—The Acts and provisions described 
under subsection (b) are amended by striking ‘‘Bureau of 
Consumer Financial Protection’’ each place such term ap-
pears (including in headings and items in table of con-
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tents) and inserting ‘‘Consumer Financial Protection Bu-
reau’’. 
(b) ACTS TO CONFORM.—The Acts and provisions 
described in this subsection are as follows: 
(1) The Alternative Mortgage Transaction Par-
ity Act of 1982 (12 U.S.C. 3801 et seq.). 
(2) The Consumer Credit Protection Act (15 
U.S.C. 1601 et seq.). 
(3) The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (12 U.S.C. 5301 et seq.). 
(4) The Expedited Funds Availability Act (12 
U.S.C. 4001 et seq.). 
(5) The Federal Deposit Insurance Act (12 
U.S.C. 1811 et seq.). 
(6) The Federal Financial Institutions Exam-
ination Council Act of 1978 (12 U.S.C. 3201 et 
seq.). 
(7) The Financial Institutions Reform, Recov-
ery, and Enforcement Act of 1989 (12 U.S.C. 1811 
note et seq.). 
(8) The Financial Literacy and Education Im-
provement Act (20 U.S.C. 9701 et seq.). 
(9) Section 626 of the Financial Services and 
General Government Appropriations Act, 2009 (divi-
sion D of Public Law 111–8; 12 U.S.C. 5538). 
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(10) The Gramm-Leach-Bliley Act (12 U.S.C. 
1811 note et seq.). 
(11) The Home Mortgage Disclosure Act of 
1975 (12 U.S.C. 2801 et seq.). 
(12) Section 10(a)(4) of the Homeowners Pro-
tection Act of 1998 (12 U.S.C. 4901 et seq.). 
(13) The Inspector General Act of 1978 (5 
U.S.C. App 2). 
(14) The Interstate Land Sales Full Disclosure 
Act (15 U.S.C. 1701 et seq.). 
(15) The Real Estate Settlement Procedures 
Act of 1974 (12 U.S.C. 2601 et seq.). 
(16) Title LXII of the Revised Statutes of the 
United States (12 U.S.C. 21 et seq.). 
(17) The Right to Financial Privacy Act of 
1978 (12 U.S.C. 3401 et seq.). 
(18) The S.A.F.E. Mortgage Licensing Act of 
2008 (12 U.S.C. 5101 et seq.). 
(19) The Telemarketing and Consumer Fraud 
and Abuse Prevention Act (15 U.S.C. 6101 et seq.). 
(20) Sections 552a(w) and 3132(a)(1)(D) of 
title 5, United States Code. 
(21) Section 987(g)(3)(E) of title 10, United 
States Code. 
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(22) Sections 3502(5) and 3513(c) of title 44, 
United States Code. 
SEC. 5. EXECUTIVE AND ADMINISTRATION POWERS. 
(a) OFFICE RESPONSIBILITIES.—Section 1012 of the 
Consumer Financial Protection Act of 2010 (12 U.S.C. 
5492) is amended— 
(1) by redesignating subsection (c) as sub-
section (d); and 
(2) by inserting after subsection (b) the fol-
lowing: 
‘‘(c) OFFICE RESPONSIBILITIES.—Notwithstanding 
subsections (a) and (b), section 1013(a), and any other 
provision of law, with respect to the specific functional 
units and offices described under subsections (b), (c), (d), 
(e), (g), and (h) of section 1013 and the advisory boards 
described under section 1014, the Director— 
‘‘(1) shall ensure that such functional units, of-
fices, and boards perform the functions, duties, and 
coordination assigned to them under the applicable 
provision of section 1013 or 1014; and 
‘‘(2) may not reorganize or rename such units, 
offices, and boards in a manner not provided for 
under the applicable provision of section 1013 or 
1014.’’. 
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(b) DUTY TO PROVIDE ADEQUATE STAFFING.—Sec-
tion 1013(a)(1) of the Consumer Financial Protection Act 
of 2010 (12 U.S.C. 5493(a)(1)) is amended by adding at 
the end the following: 
‘‘(D) 
DUTY
TO
PROVIDE
ADEQUATE 
STAFFING.—The Director shall ensure that the 
specific functional units and offices established 
under section 1013, as well as other units and 
offices with supervisory and enforcement duties, 
are provided with sufficient staff to carry out 
the functions, duties, and coordination of those 
units and offices.’’. 
(c) LIMITATION ON POLITICAL APPOINTEES.—Sec-
tion 1013(a)(1) of the Consumer Financial Protection Act 
of 2010 (12 U.S.C. 5493(a)(1)) is amended by adding at 
the end the following: 
‘‘(E) 
LIMITATION
ON
POLITICAL
AP-
POINTEES.— 
‘‘(i) IN GENERAL.—In appointing em-
ployees of the Bureau who are political ap-
pointees, the Director shall ensure that the 
number and duties of such political ap-
pointees are as similar as possible to those 
of the other Federal primary financial reg-
ulatory agencies. 
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‘‘(ii) 
POLITICAL
APPOINTEES
DE-
FINED.—For purposes of this subpara-
graph, the term ‘political appointee’ means 
an employee who holds— 
‘‘(I) a position which has been 
excepted from the competitive service 
by reason of its confidential, policy-de-
termining, policy-making, or policy-ad-
vocating character; 
‘‘(II) a position in the Senior Ex-
ecutive Service as a noncareer ap-
pointee (as such term is defined in 
section 3132(a) of title 5, United 
States Code); or 
‘‘(III) a position under the Exec-
utive Schedule (subchapter II of chap-
ter 53 of title 5, United States 
Code).’’. 
(d) PUBLIC AVAILABILITY OF COMPLAINT INFORMA-
TION.— 
(1) IN GENERAL.—Section 1013(b)(3) of the 
Consumer Financial Protection Act of 2010 (12 
U.S.C. 5493(b)(3)) is amended— 
(A) in subparagraph (A)— 
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(i) by inserting ‘‘publicly available’’ 
before ‘‘website’’; 
(ii) by inserting ‘‘publicly available’’ 
before ‘‘database’’, each place such term 
appears; and 
(iii) by adding at the end the fol-
lowing: ‘‘The Director shall ensure that the 
landing page of the main website of the 
Bureau contains a clear and conspicuous 
hyperlink to the consumer complaint data-
base described in this subparagraph and 
shall ensure that such database is user- 
friendly and in plain writing (as such term 
is defined in the Plain Writing Act of 
2010). The Director shall ensure that all 
information on the website or the database 
that explains how to file a complaint with 
the Bureau, as well as all reports of the 
Bureau with respect to information con-
tained in the database, shall be provided in 
each of the five most commonly spoken 
languages, other than English, in the 
United States, as determined by the Bu-
reau of the Census on an ongoing basis, 
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and in formats accessible to individuals 
with hearing or vision impairments.’’; and 
(B) by adding at the end the following: 
‘‘(E) PUBLIC AVAILABILITY OF INFORMA-
TION.— 
‘‘(i) 
IN
GENERAL.—The 
Director 
shall— 
‘‘(I) make all consumer com-
plaints available to the public on a 
website of the Bureau; 
‘‘(II) place a clear and con-
spicuous hyperlink on the landing 
page of the main website of the Bu-
reau to the website described under 
subclause (I); and 
‘‘(III) ensure that such website— 
‘‘(aa) is searchable and sort-
able by both consumer financial 
product or service and by covered 
person; and 
‘‘(bb) is user-friendly and 
written in plain language. 
‘‘(ii) INCLUSION OF COMPLAINTS SUB-
MITTED
WITH
INQUIRIES.—For purposes 
of clause (i), in addition to all complaints 
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described under subparagraph (A), con-
sumer complaints shall include any com-
plaints submitted with, or as part of, an 
inquiry described under section 1034. 
‘‘(iii) 
REMOVAL
OF
PERSONALLY 
IDENTIFIABLE INFORMATION.—In making 
the information described under clause (i) 
available to the public, the Director shall 
remove all personally identifiable informa-
tion.’’. 
(2) RULE OF CONSTRUCTION.— 
(A) IN
GENERAL.—The Director of the 
Consumer Financial Protection Bureau shall 
ensure— 
(i) that the database and website de-
scribed under section 1013(b)(3) of the 
Consumer Financial Protection Act of 
2010 have, at a minimum, the same avail-
ability, transparency, and functionality 
that such database and website had prior 
to November 24, 2017; and 
(ii) that consumers are able, at a min-
imum, to submit complaints to the Bureau 
with respect to— 
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(I) any covered person or service 
provider; and 
(II) any financial product or 
service. 
(B) DEFINITIONS.—For purposes of this 
paragraph, the terms ‘‘covered person’’, ‘‘finan-
cial product or service’’, and ‘‘service provider’’ 
have the meaning given those terms, respec-
tively, under section 1002 of the Consumer Fi-
nancial Protection Act of 2010. 
(e) MEMORANDA OF UNDERSTANDING.— 
(1) REPORT
ON
CURRENT
MOUS.—Not later 
than the end of the 30-day period beginning on the 
date of enactment of this Act, the Director of the 
Consumer Financial Protection Bureau shall issue a 
report to the Committee on Financial Services of the 
House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate 
listing— 
(A) each memorandum of understanding in 
effect with the Bureau on November 24, 2017; 
(B) any changes made to such a memo-
randum of understanding since such date, in-
cluding any memorandum of understanding re-
scinded since such date; and 
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(C) a justification for each such change or 
rescission. 
(2) SEMI-ANNUAL REPORT ON MOUS.—Section 
1016(c) of the Consumer Financial Protection Act 
of 2010 (12 U.S.C. 5496(c)) is amended— 
(A) in paragraph (8), by striking ‘‘and’’ at 
the end; 
(B) in paragraph (9), by striking the pe-
riod and inserting a semicolon; and 
(C) by adding at the end the following: 
‘‘(10) a list of each memorandum of under-
standing in effect with the Bureau, any changes 
made to a memorandum of understanding since the 
last report was made under subsection (b), and a 
justification for each such change;’’. 
(3) REESTABLISHMENT OF MEMORANDA OF UN-
DERSTANDING.—The memoranda of understanding 
between the Consumer Financial Protection Bureau 
and the Department of Education titled ‘‘Memo-
randum of Understanding Between the Bureau of 
Consumer Financial Protection and the U.S. De-
partment of Education Concerning the Sharing of 
Information’’ (October 19, 2011) and ‘‘Memo-
randum of Understanding Concerning Supervisory 
and Oversight Cooperation and Related Information 
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Sharing Between the U.S. Department of Education 
and the Consumer Financial Protection Bureau’’ 
(January 9, 2014)— 
(A) shall remain in effect and may not be 
terminated by any party to such memoranda; 
and 
(B) may only be amended or revised if the 
parties to the memoranda determine that such 
amendment or revision would promote better 
interagency coordination to the benefit of con-
sumers. 
(f) ADDITIONAL REPORT INFORMATION
ON CON-
SUMER SAVINGS.—Section 1013 of the Consumer Finan-
cial Protection Act of 2010 (12 U.S.C. 5493) is amended 
by adding at the end the following: 
‘‘(i) ADDITIONAL REPORT INFORMATION ON CON-
SUMER SAVINGS.—In issuing each report required under 
section 502(d) of the Credit CARD Act of 2009, the Bu-
reau shall include a numerical estimate of the amount that 
such Act has saved consumers in fees impacted by such 
Act, relative to the level of such fees prior to the enact-
ment of such Act.’’. 
(g) RESTORATION OF RULE PROHIBITING FORCED 
ARBITRATION IN CONSUMER CONTRACTS.— 
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(1) REPEAL
OF
JOINT
RESOLUTION.—Public 
Law 115–74 is hereby repealed. 
(2) RESTORATION OF RULE.—Not later than 
the end of the 3-day period beginning on the date 
of enactment of this Act, the Consumer Financial 
Protection Bureau shall reissue the final rule of the 
Bureau specified in Public Law 115–74 (relating to 
‘‘Arbitration Agreements’’) in the same form as such 
rule existed on the day before the date of enactment 
of Public Law 115–74, except the Bureau shall 
specify that the rule takes effect after the end of the 
60-day period beginning on the date such rule is re-
issued. 
SEC. 6. OFFICES OF THE CONSUMER FINANCIAL PROTEC-
TION BUREAU. 
(a) CLARIFICATION OF THE DUTIES OF THE OFFICE 
OF FAIR LENDING AND EQUAL OPPORTUNITY.—Section 
1013(c)(2) of the Consumer Financial Protection Act of 
2010 (12 U.S.C. 5493(c)(2)) is amended— 
(1) by striking ‘‘Office of Fair Lending and 
Equal Opportunity shall have such powers and du-
ties as the Director may delegate to the Office, in-
cluding’’ and inserting ‘‘powers and duties of the Of-
fice of Fair Lending and Equal Opportunity shall in-
clude’’; 
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(2) in subparagraph (C), by striking ‘‘and’’ at 
the end; 
(3) in subparagraph (D), by striking the period 
and inserting a semicolon; and 
(4) by adding at the end the following: 
‘‘(E) implementing the Bureau’s enforce-
ment and supervisory authority with respect to 
fair lending laws; and 
‘‘(F) such additional powers and duties as 
the Director may determine appropriate.’’. 
(b) OFFICE
OF
STUDENTS
AND
YOUNG
CON-
SUMERS.— 
(1) IN GENERAL.—Section 1013 of the Con-
sumer Financial Protection Act of 2010 (12 U.S.C. 
5493), as amended by section 5(f), is further 
amended by adding at the end the following: 
‘‘(j) OFFICE
OF
STUDENTS
AND
YOUNG
CON-
SUMERS.— 
‘‘(1) IN
GENERAL.—The Director shall, not 
later than the end of the 60-day period beginning on 
the date of enactment of this section, establish an 
Office of Students and Young Consumers, which 
shall work to empower students, young people, and 
their families to make more informed financial deci-
sions about saving and paying for college, accessing 
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safer and more affordable financial products and 
services, all matters related to private education 
loans (as defined under section 1035(e)), and repay-
ing student loan debt, including private education 
loans. 
‘‘(2) HEAD OF THE OFFICE.—The head of the 
Office of Students and Young Consumers shall be 
the Assistant Director and Student Loan Ombuds-
man, and the Assistant Director and Student Loan 
Ombudsman shall carry out all functions established 
under section 1035 through the Office of Students 
and Young Consumers. 
‘‘(3) SUPERVISORY, ENFORCEMENT, AND REGU-
LATORY
MATTERS.—The Office of Students and 
Young Consumers shall assist in all supervisory, en-
forcement, and regulatory matters of the Bureau re-
lated to the functions of the Office. 
‘‘(4) COORDINATION.—The Director shall enter 
into memoranda of understanding and similar agree-
ments with the Department of Education and other 
Federal and State agencies, as appropriate, in order 
to carry out the business of the Office of Students 
and Young Consumers. 
‘‘(5) REPORT ON RISKS TO YOUNG CONSUMERS 
AND STUDENT BORROWERS.—Not less than once an-
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nually, the Assistant Director and Student Loan 
Ombudsman shall issue a report to Congress con-
taining an analysis of complaints submitted to the 
Bureau by young consumers and student borrowers 
during the previous year and offering an inde-
pendent evaluation of risks to young consumers and 
student borrowers posed by policies and practices in 
the marketplace for consumer financial products and 
services. 
‘‘(6) COLLECTION OF STUDENT LOAN SERVICER 
DATA.— 
‘‘(A) IN GENERAL.—The Assistant Direc-
tor and Student Loan Ombudsman shall re-
quire each servicer of student loans to submit 
an annual report to the Assistant Director with 
information regarding the servicer’s loan port-
folio, including data regarding the following: 
‘‘(i) The size of the servicer’s port-
folio. 
‘‘(ii) The repayment status of unique 
accounts. 
‘‘(iii) Borrower-initiated and servicer- 
initiated contacts, and the outcome of each 
such contact. 
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‘‘(iv) Income-driver repayment appli-
cations and recertifications. 
‘‘(v) Any other data the Assistant Di-
rector and Student Loan Ombudsman de-
termines necessary to carry out the func-
tions of the Office of Students and Young 
Consumers. 
‘‘(B) REPORT.—The Assistant Director 
and Student Loan Ombudsman shall include, in 
each report required under section 1035(d)(1), 
a description of the information collected under 
this paragraph, along with any findings or de-
terminations the Assistant Director made with 
respect to such information. 
‘‘(C) GUIDANCE.—Not later than 90 days 
after the enactment of this subsection, the Bu-
reau shall issue guidance to student loan 
servicers to facilitate the data collection re-
quired under this paragraph.’’. 
(2) RENAMING AND APPOINTMENT CLARIFICA-
TION OF THE PRIVATE EDUCATION LOAN OMBUDS-
MAN.— 
(A) IN
GENERAL.—Section 1035 of the 
Consumer Financial Protection Act of 2010 (12 
U.S.C. 5535) is amended— 
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(i) in the heading of the section by 
striking ‘‘PRIVATE EDUCATION’’ and in-
serting ‘‘ASSISTANT
DIRECTOR
AND 
STUDENT’’; 
(ii) in subsection (a), by striking ‘‘The 
Secretary, in consultation with the Direc-
tor, shall designate a Private Education 
Loan Ombudsman’’ and inserting ‘‘The 
Director shall designate an individual as 
the Assistant Director and Student Loan 
Ombudsman’’; 
(iii) in subsection (b), by striking 
‘‘The Secretary and the Director’’ and in-
serting ‘‘The Director’’; and 
(iv) in subsection (d)(2), by inserting 
‘‘the Director,’’ before ‘‘the Secretary,’’. 
(B) CLERICAL AMENDMENT.—The table of 
contents under section 1(b) of the Dodd-Frank 
Wall Street Reform and Consumer Protection 
Act is amended, in the item relating to section 
1035, by striking ‘‘Private education’’ and in-
serting ‘‘Assistant director and student’’. 
(C) DEEMING OF NAME.—Any reference in 
any law, regulation, document, record, or other 
paper of the United States to the ‘‘Private Edu-
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cation Loan Ombudsman’’ shall be deemed a 
reference to the ‘‘Assistant Director and Stu-
dent Loan Ombudsman’’. 
(c) SEMI-ANNUAL REPORT TO CONGRESS ON CER-
TAIN OFFICES OF THE BUREAU.—Section 1016(c) of the 
Consumer Financial Protection Act of 2010 (12 U.S.C. 
5496(c)), as amended by section 5(e)(2), is further 
amended by adding at the end the following: 
‘‘(11) with respect to each of the specific func-
tional units and offices established under section 
1013— 
‘‘(A) a detailed description of the activities 
of the unit or office since the last report was 
made under subsection (b); and 
‘‘(B) an analysis of the efforts of the Bu-
reau to achieve the duties of the unit or office; 
and 
‘‘(12) with respect to each specific functional 
units and offices established under section 1013, as 
well as each other unit and office with supervisory 
and enforcement duties, a break down of the number 
of political and professional career staff assigned to 
and employed by each unit or office at the end of 
the reporting period.’’. 
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(d) FUNCTION OF ANY UNIT OR OFFICE ESTAB-
LISHED TO CONDUCT COST BENEFIT ANALYSIS.—Any 
unit or office established to conduct cost benefit analysis 
within the Consumer Financial Protection Bureau shall, 
as its sole function, carry out the considerations required 
by section 1022(b)(2)(A) of the Consumer Financial Pro-
tection Act of 2010 (12 U.S.C. 5512(b)(2)(A)). 
SEC. 7. CONSUMER ADVISORY BOARD REFORMS. 
(a) IN GENERAL.—Section 1014 of the Consumer Fi-
nancial Protection Act of 2010 (12 U.S.C. 5494) is 
amended— 
(1) by amending subsection (b) to read as fol-
lows: 
‘‘(b) MEMBERSHIP.— 
‘‘(1) 
QUALIFICATIONS.—In 
appointing 
the 
members of the Consumer Advisory Board, the Di-
rector shall— 
‘‘(A) seek to assemble a diverse and inclu-
sive group of experts in consumer protection, fi-
nancial services, community development, fair 
lending and civil rights, and consumer financial 
products or services and representatives of de-
pository institutions that primarily serve under-
served 
communities, 
representatives 
of 
servicemembers, veterans, and their families, 
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and representatives of communities that have 
been significantly impacted by higher-priced 
mortgage loans, and seek representation of the 
interests of covered persons and consumers, 
without regard to party affiliation; 
‘‘(B) ensure that at least 2⁄3 of the mem-
bers represent the interests of consumers, in-
cluding experts in consumer protection, fair 
lending, civil rights, and representatives of com-
munities that have been significantly impacted 
by higher-priced mortgage loans and other 
products that resulted in consumer harm; 
‘‘(C) ensure that at least one member is an 
expert in consumer privacy; and 
‘‘(D) seek to appoint individuals involved 
in the industries affected by the Bureau, includ-
ing individuals who represent community banks, 
credit unions, small business owners, or experts 
in United States economic growth and jobs. 
‘‘(2) NUMBER
OF
MEMBERS.—The Director 
shall appoint not fewer than 25 members to the 
Consumer Advisory Board, and not fewer than 6 
members shall be appointed upon the recommenda-
tion of the regional Federal Reserve Bank Presi-
dents, on a rotating basis. 
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‘‘(3) MEMBERSHIP
RIGHTS
AFTER
CHARTER 
CHANGE.—Any change to the charter for the Con-
sumer Advisory Board affecting the membership 
shall not preclude prior or current members from 
applying for consideration to serve on a reconsti-
tuted Consumer Advisory Board.’’; and 
(2) in subsection (c)— 
(A) by striking ‘‘meet from’’ and inserting 
‘‘meet in person from’’; and 
(B) by adding at the end the following: 
‘‘The Bureau shall provide adequate notice to 
the members of the Consumer Advisory Board 
of the time and date of each meeting, and of 
any meeting cancellations.’’. 
(b) INCLUSION OF THE DIRECTOR IN MEETINGS AND 
ACCESS TO BUREAU STAFF.—Section 1014 of the Con-
sumer Financial Protection Act of 2010 (12 U.S.C. 5494) 
is amended by adding at the end the following: 
‘‘(e) INCLUSION OF THE DIRECTOR IN MEETINGS 
AND ACCESS TO BUREAU STAFF.—With respect to each 
in person meeting of the Consumer Advisory Board— 
‘‘(1) the Director shall attend such meeting in 
person; and 
‘‘(2) the Director shall ensure that the members 
of the Consumer Advisory Board have an oppor-
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tunity to meet and engage in person with all appro-
priate staff and office of the Bureau.’’. 
(c) TREATMENT OF MEMBERS OF THE CONSUMER 
ADVISORY BOARD.—Notwithstanding any other law— 
(1) any member of the Consumer Advisory 
Board of the Consumer Financial Protection Bureau 
on November 1, 2017, may continue to serve as a 
member of such advisory board until March 27, 
2020, and may not be removed from such position 
without cause by the Director of the Bureau until 
such date; and 
(2) any member of the Consumer Advisory 
Board of the Consumer Financial Protection Bureau 
on the date of enactment of this Act, may continue 
to serve as a member of such advisory board until 
March 27, 2020, and may not be removed from such 
position without cause by the Director of the Bureau 
until such date. 
(d) ADDITIONAL REQUIREMENTS
FOR ADVISORY 
COMMITTEES.—Section 1013 of the Consumer Financial 
Protection Act of 2010 (12 U.S.C. 5493), as amended by 
section 6(b)(1), is further amended by adding at the end 
the following: 
‘‘(k) ADVISORY COMMITTEE REQUIREMENTS.— 
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‘‘(1) QUALIFICATIONS.—In appointing members 
of any advisory committee, other than the Consumer 
Advisory Board, the Director shall ensure that at 
least 1⁄3 of the members represent the interests of 
consumers, including experts in consumer protection, 
fair lending, civil rights, and representatives of com-
munities that have been significantly impacted by 
higher-priced mortgage loans and other products 
that resulted in consumer harm. 
‘‘(2) SELECTION OF MEMBERS REPRESENTING 
MINORITY-OWNED, 
WOMEN-OWNED
BUSINESSES, 
AND MILITARY- AND VETERAN-SERVING FINANCIAL 
INSTITUTIONS.—In appointing members of any advi-
sory committee, the Director shall seek to promote 
diversity and inclusion in making appointments, in-
cluding by appointing individuals who represent mi-
nority-owned, 
women-owned 
businesses, 
and 
military- and veteran-serving financial institutions.’’. 
SEC. 8. DISCRETIONARY SURPLUS FUNDS. 
Section 7(a)(3)(A) of the Federal Reserve Act (12 
U.S.C. 
289(a)(3)(A)) 
is 
amended 
by 
striking 
‘‘$6,825,000,000’’ and inserting ‘‘$6,797,000,000 (re-
duced by $10,000,000) (reduced by $10,000,000) (re-
duced by $10,000,000)’’. 
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SEC. 9. MODIFICATION OF THE EXEMPTION FROM CERTAIN 
DISCLOSURE REQUIREMENTS. 
(a) IN GENERAL.—Section 304 of the Home Mort-
gage Disclosure Act of 1975 (12 U.S.C. 2803) is amend-
ed— 
(1) by striking subsection (i) and inserting the 
following: 
‘‘(i) EXEMPTION FROM CERTAIN DISCLOSURE RE-
QUIREMENTS.—The requirements of paragraphs (4), (5), 
and (6) of subsection (b) shall not apply with respect to 
any depository institution described in section 303(3)(A) 
that has total assets, as of the most recent full fiscal year 
of the institution, of $30 million or less.’’; and 
(2) by striking subsection (o). 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
Section 104 of the Economic Growth, Regulatory Relief, 
and Consumer Protection Act (Public Law 115–174; 132 
Stat. 1301) is amended by striking subsection (b). 
SEC. 10. LIMITATION ON PROVIDING EXEMPTIONS FROM 
HMDA REPORTING REQUIREMENTS. 
Section 1027 of the Consumer Financial Protection 
Act (12 U.S.C. 5517) is amended by adding at the end 
the following: 
‘‘(t) LIMITATION ON PROVIDING EXEMPTIONS FROM 
HMDA REPORTING REQUIREMENTS.—Notwithstanding 
any provision of this title or the Home Mortgage Disclo-
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sure Act of 1975, the Bureau may not provide any person 
with an exemption from complying with any reporting re-
quirements under the Home Mortgage Disclosure Act of 
1975 if such exemption did not exist on the date of enact-
ment of this subsection.’’. 
SEC. 11. LIMITATION ON MODIFYING HMDA DATA FIELDS. 
Section 1027 of the Consumer Financial Protection 
Act (12 U.S.C. 5517) is amended by adding at the end 
the following: 
‘‘(u) LIMITATION
ON MODIFYING HMDA DATA 
FIELDS.—Notwithstanding any provision of this title or 
the Home Mortgage Disclosure Act of 1975, the Bureau 
may not eliminate, with respect to the reporting require-
ments under the Home Mortgage Disclosure Act of 1975, 
any data fields that were required to be reported on the 
date of enactment of this subsection.’’. 
SEC. 12. MAINTAINING THE HMDA EXPLORER TOOL AND 
THE PUBLIC DATA PLATFORM API. 
The Consumer Financial protection Bureau may not 
retire the HMDA Explorer tool or the Public Data Plat-
form API. 
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SEC. 13. REPORT ON FAIR LENDING INVESTIGATIONS AND 
ENFORCEMENT ACTIONS. 
Section 1016 of the Consumer Financial Protection 
Act of 2010 (12 U.S.C. 5496) is amended by adding at 
the end the following: 
‘‘(d) REPORT ON FAIR LENDING INVESTIGATIONS 
AND ENFORCEMENT ACTIONS.—The Director shall issue 
a monthly report to Congress containing— 
‘‘(1) the number of investigations opened and 
closed by the Bureau relating to potential fair lend-
ing violations; 
‘‘(2) how many fair lending enforcement actions 
have been taken or referred; 
‘‘(3) an analysis of consumer complaints relat-
ing to potential fair lending violations; and 
‘‘(4) statistics on how many staff of the Office 
of Fair Lending and Equal Opportunity are dedi-
cated to fair lending supervision and enforcement 
issues.’’. 
SEC. 14. DEBT COLLECTION. 
(a) REPORT
ON DEBT COLLECTION COMPLAINTS 
AND ENFORCEMENT ACTIONS.—Section 1016 of the Con-
sumer Financial Protection Act of 2010 (12 U.S.C. 5496) 
is amended by adding at the end the following: 
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‘‘(e) REPORT ON DEBT COLLECTION COMPLAINTS 
AND ENFORCEMENT ACTIONS.—The Director shall issue 
a quarterly report to Congress containing— 
‘‘(1) an analysis of the consumer complaints re-
ceived by the Bureau with respect to debt collection, 
including a State-by-State breakdown of such com-
plaints; and 
‘‘(2) a list of enforcement actions taken against 
debt collectors during the previous 12 months.’’. 
(b) LIMITATION ON DEBT COLLECTION RULES.— 
Section 1022 of the Consumer Financial Protection Act 
of 2010 (12 U.S.C. 5512) is amended by adding at the 
end the following: 
‘‘(e) LIMITATION ON DEBT COLLECTION RULES.— 
The Director may not issue any rule with respect to debt 
collection that allows a debt collector to send unlimited 
email and text messages to a consumer.’’. 
SEC. 15. CREDIT SCORES INCLUDED IN FREE ANNUAL DIS-
CLOSURES. 
Section 609 of the Fair Credit Reporting Act (15 
U.S.C. 1681g) is amended— 
(1) in subsection (a)(1)— 
(A) by striking ‘‘and’’ at the end and in-
serting a period; 
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(B) by striking ‘‘except that—’’ and all 
that follows through ‘‘(A) if the’’ and inserting 
‘‘except that if the’’; and 
(C) by striking subparagraph (B); 
(2) in subsection (a), by adding at the end the 
following: 
‘‘(7) If the consumer reporting agency is a con-
sumer reporting agency that compiles and maintains 
files on consumers on a nationwide basis as de-
scribed in section 603(p), each such agency shall dis-
close a current credit score generated using the scor-
ing algorithm, formula, model, program, or mecha-
nism that is most frequently used to generate credit 
scores sold to creditors, subject to regulations of the 
Bureau, along with any information in the con-
sumer’s file at the time of the request concerning 
credit scores or any other risk scores or other pre-
dictors relating to the consumer, if such request is 
made in connection with a free annual disclosure 
made pursuant to section 612(a). 
‘‘(8) Such other consumer information as the 
Bureau considers appropriate with respect to con-
sumer financial education, including the information 
required by subsection (f)(1), information describing 
the credit score of the consumer with respect to a 
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range of possible credit scores, and the general fac-
tors contributing to the credit scores of consumers.’’; 
and 
(3) in subsection (f)— 
(A) in paragraph (1)— 
(i) by striking ‘‘, a consumer report-
ing agency’’ and all that follows through 
‘‘shall include—’’ and inserting ‘‘or a risk 
score, a consumer reporting agency shall 
supply to the consumer—’’; and 
(ii) by amending subparagraph (A) to 
read as follows: 
‘‘(A) any credit score or risk score in the 
file of the consumer at the consumer reporting 
agency;’’; 
(B) in paragraph (2)— 
(i) by redesignating subparagraph (B) 
as subparagraph (C); and 
(ii) by striking subparagraph (A) and 
inserting the following: 
‘‘(A) CREDIT
SCORE.—The term ‘credit 
score’ means a numerical value or a categoriza-
tion derived from a statistical tool or modeling 
system used by a person who makes or ar-
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ranges a loan to predict the likelihood of certain 
credit behaviors, including default. 
‘‘(B) RISK SCORE.—The term ‘risk score’ 
means a numerical value or a categorization de-
rived from a statistical tool or modeling system 
based upon information from a consumer report 
for the purpose of predicting the likelihood of 
certain behaviors or outcomes, and includes 
scores used for the underwriting of insurance.’’; 
(C) by striking paragraph (6) and insert-
ing the following: 
‘‘(6) MAINTENANCE OF CREDIT SCORES.—All 
consumer reporting agencies shall maintain in the 
consumer’s file credit scores or any other risk scores 
or other predictors relating to the consumer for a 
period of not less than 1 year beginning on the date 
on which such information is generated.’’; 
(D) by striking paragraph (7) and redesig-
nating paragraphs (8) and (9) as paragraphs 
(7) and (8), respectively; and 
(E) in paragraph (7) (as so redesignated), 
by inserting before the period at the end the 
following: ‘‘, except that a consumer reporting 
agency described in section 603(p) shall provide 
a credit score without charge to the consumer 
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if the consumer is requesting the score in con-
nection with a free annual disclosure made pur-
suant to section 612(a)’’. 
SEC. 16. REPORT ON SENIOR CONSUMERS. 
Section 1016 of the Consumer Financial Protection 
Act of 2010 (12 U.S.C. 5496) is amended by adding at 
the end the following: 
‘‘(f) REPORT ON SENIOR CONSUMERS.— 
‘‘(1) IN GENERAL.—The Director shall issue an 
annual report to Congress containing— 
‘‘(A) an analysis, in coordination with the 
Office of Financial Protection for Older Ameri-
cans, of consumer complaints from older Ameri-
cans, including a State-by-State breakdown of 
complaints by type of consumer financial prod-
uct or service; and 
‘‘(B) any legislative or regulatory rec-
ommendations the Director may have to im-
prove consumer protections for older Ameri-
cans. 
‘‘(2) OLDER
AMERICANS
DEFINED.—In this 
subsection, the term ‘older Americans’ means indi-
viduals who have attained the age of 62 years or 
more.’’. 
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SEC. 17. REPORT ON PAYDAY LOAN AND CAR-TITLE LOAN 
INVESTIGATIONS AND ENFORCEMENT AC-
TIONS. 
Section 1016 of the Consumer Financial Protection 
Act of 2010 (12 U.S.C. 5496) is amended by adding at 
the end the following: 
‘‘(g) REPORT
ON PAYDAY LOAN
AND CAR-TITLE 
LOAN INVESTIGATIONS AND ENFORCEMENT ACTIONS.— 
The Director shall issue a quarterly report to Congress 
containing— 
‘‘(1) the number of investigations opened and 
closed by the Bureau relating to payday loans and 
car-title loans; 
‘‘(2) the number of enforcement actions that 
have been taken or referred relating to payday loans 
and car-title loans; 
‘‘(3) an estimate of the amount of fees cus-
tomers have paid relating to payday loans and car- 
title loans; 
‘‘(4) an estimate of the number of times in the 
previous 12 months a typical payday loan customer 
has rolled over their loan; and 
‘‘(5) an estimate of how many car-title loan 
customers lost their car in the previous 12 months.’’. 
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SEC. 18. EFFECTIVE DATE. 
This Act and the amendments made by this Act shall 
take effect on the date of the enactment of this Act, except 
that the Director of the Consumer Financial Protection 
Bureau shall have 30 days to complete any operational 
changes to the Bureau required by this Act or an amend-
ment made by this Act. 
Passed the House of Representatives May 22, 2019. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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