Reforming CFPB Indirect Auto Financing Guidance Act

Bill: 114-hr-1737
Sponsor: Rep. Guinta, Frank C. [R-NH-1]
Introduced: 2015-04-13 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer Financial Protection Bureau
Consumer affairs
Consumer credit
Financial services and investments
Government information and archives
Government studies and investigations
Minority and disadvantaged businesses
Motor vehicles
Rural conditions and development
Small business
Veterans' education, employment, rehabilitation
Women in business

Summary:
action_date: 2015-04-13
text: 

Reforming CFPB Indirect Auto Financing Guidance Act 

 
 Declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.
 
Amends the Consumer Financial Protection Act of 2010 to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:
 
 
provide for a public notice and comment period before issuing the guidance in final form;
 
make publicly available all information relied on by the CFPB;
 
redact any information exempt from disclosure under the Freedom of Information Act;
 
consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and 
study the costs and impacts of the guidance to consumers and women-owned, minority-owned, and small businesses. 

action_date: 2015-11-09
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Reforming CFPB Indirect Auto Financing Guidance Act 

 
 (Sec. 2) Declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.
 
(Sec. 3) Amends the Consumer Financial Protection Act of 2010 to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:
 
 
provide for a public notice and comment period before issuing the guidance in final form;
 
make publicly available all information relied on by the CFPB;
 
redact any information exempt from disclosure under the Freedom of Information Act;
 
consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and 
study the costs and impacts of the guidance to consumers and women-owned, minority-owned, and small businesses. 

action_date: 2015-11-18
text: 

Reforming CFPB Indirect Auto Financing Guidance Act 

 
 (Sec. 2) Declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.
 
(Sec. 3) Amends the Consumer Financial Protection Act of 2010 to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:
 
 
provide for a public notice and comment period before issuing the guidance in final form;
 
make publicly available all information relied on by the CFPB;
 
redact any information exempt from disclosure under the Freedom of Information Act;
 
consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and 
study the costs and impacts of the guidance to consumers and women-owned, minority-owned, veteran-owned, and small businesses, including consumers and small businesses in rural areas. 


Legislative actions:
action_date: 2015-11-19
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2015-11-18
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2015-11-18
text: On passage Passed by the Yeas and Nays: 332 - 96 (Roll no. 637).
action_date: 2015-11-18
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 332 - 96 (Roll no. 637).
action_date: 2015-11-18
text: Considered as unfinished business. (consideration: CR H8322)
action_date: 2015-11-18
text: POSTPONED ROLL CALL VOTE - The Chair put the question on passage of H.R. 1737 and by voice vote, announced that the ayes had prevailed. Mr. Guinta demanded the yeas and nays and the Chair postponed further proceedings on the question of passage until a time to be announced.
action_date: 2015-11-18
text: The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
action_date: 2015-11-18
text: The previous question was ordered pursuant to the rule. (consideration: CR H8311)
action_date: 2015-11-18
text: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1737.
action_date: 2015-11-18
text: DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Sewell amendment No. 3.
action_date: 2015-11-18
text: DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Smith (MO) amendment No. 2.
action_date: 2015-11-18
text: DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Gosar amendment No. 1.
action_date: 2015-11-18
text: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1737.
action_date: 2015-11-18
text: The Speaker designated the Honorable Ted Poe to act as Chairman of the Committee.
action_date: 2015-11-18
text: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 526 and Rule XVIII.
action_date: 2015-11-18
text: Rule provides for consideration of H.R. 1737 and H.R. 511. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. For the purposes of requesting a conference with the Senate, the resolution provides that the House has taken S. 1177 from the Speaker's table, adopts an amendment in the nature of a substitute consisting of the text of H.R. 5, as passed by the House and adopts S. 1177, as amended. The resolution makes in order only those amendments to H.R. 1737 printed in the report. H.R. 511 shall be considered under a closed rule.
action_date: 2015-11-18
text: Considered under the provisions of rule H. Res. 526. (consideration: CR H8297-8311; text of measure as reported in House: CR H8309)
action_date: 2015-11-16
text: Rules Committee Resolution H. Res. 526 Reported to House. Rule provides for consideration of H.R. 1737 and H.R. 511. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. For the purposes of requesting a conference with the Senate, the resolution provides that the House has taken S. 1177 from the Speaker's table, adopts an amendment in the nature of a substitute consisting of the text of H.R. 5, as passed by the House and adopts S. 1177, as amendend. The resolution makes in order only those amendments to H.R. 1737 printed inthe report. H.R. 511 shall be considered under a closed rule.
action_date: 2015-11-09
text: Placed on the Union Calendar, Calendar No. 250.
action_date: 2015-11-09
text: Reported by the Committee on Financial Services. H. Rept. 114-329.
action_date: 2015-11-09
text: Reported by the Committee on Financial Services. H. Rept. 114-329.
action_date: 2015-07-29
text: Ordered to be Reported by the Yeas and Nays: 47 - 10.
action_date: 2015-07-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-06-11
text: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
action_date: 2015-04-13
text: Referred to the House Committee on Financial Services.
action_date: 2015-04-13
text: Introduced in House
action_date: 2015-04-13
text: Introduced in House