Responsible Consumer Financial Protection Regulations Act of 2011

Bill: 112-hr-1121
Sponsor: Rep. Bachus, Spencer [R-AL-6]
Introduced: 2011-03-16 in the House
Policy area: Finance and Financial Sector
Subjects: 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

Summary:
action_date: 2011-03-16
text: 
Responsible Consumer Financial Protection Regulations Act of 2011 - Amends the Consumer Financial Protection Act of 2010, title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to replace the position of Director of the Bureau of Consumer Financial Protection with a five-member Commission whose members are appointed by the President, by and with the advice and consent of the Senate.
 
Prohibits the Chair of the Commission from making requests for estimates related to appropriations without the prior approval of the Commission.

action_date: 2011-06-16
text: 
Responsible Consumer Financial Protection Regulations Act of 2011 - Amends the Consumer Financial Protection Act of 2010, (title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act), to replace the position of Director of the Bureau of Consumer Financial Protection with a five-member Commission composed of the Vice Chairman for Supervision of the Federal Reserve System and four additional members appointed by the President, with the advice and consent of the Senate, from among individuals who should want to protect service members and their families who are sacrificing their lives for this country from abusive financial practices.
 
Prohibits Commission members from engaging in any other business, vocation, or employment. 
 
 Requires one member of the Commission to exercise primary responsibility for the Bureau's oversight activities pertaining to protecting consumers, with a focus on consumers who are older, minorities, youth, or veterans, from unfair, deceptive, and abusive lending practices.
 
Prohibits the Chair of the Commission from making requests for estimates related to appropriations without prior Commission approval.


Legislative actions:
action_date: 2011-07-19
text: Supplemental report filed by the Committee on Financial Services, H. Rept. 112-107, Part II.
action_date: 2011-07-19
text: Supplemental report filed by the Committee on Financial Services, H. Rept. 112-107, Part II.
action_date: 2011-06-16
text: Placed on the Union Calendar, Calendar No. 61.
action_date: 2011-06-16
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 112-107.
action_date: 2011-06-16
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 112-107.
action_date: 2011-05-13
text: Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 24.
action_date: 2011-05-13
text: Committee Consideration and Mark-up Session Held.
action_date: 2011-05-04
text: Forwarded by Subcommittee to Full Committee by the Yeas and Nays: 13 - 7 .
action_date: 2011-05-04
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2011-04-06
text: Subcommittee Hearings Held.
action_date: 2011-04-04
text: Referred to the Subcommittee on Financial Institutions and Consumer Credit.
action_date: 2011-03-16
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
action_date: 2011-03-16
text: Referred to the House Committee on Financial Services.
action_date: 2011-03-16
text: Introduced in House
action_date: 2011-03-16
text: Introduced in House