Bureau Guidance Transparency Act

Bill: 113-hr-4684
Sponsor: full_name: Rep. Stutzman, Marlin A. [R-IN-3]
Introduced: 2014-05-20
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Banking and financial institutions regulation

Consumer Financial Protection Bureau

Consumer affairs

Government information and archives
Latest action: action_date: 2014-05-20
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2014-05-20
action_desc: Introduced in House
text: <p>Bureau Guidance Transparency Act - Amends the Consumer Financial Protection Act of 2010 to direct the Consumer Financial Protection Bureau (CFPB), before issuing any guidance, to: (1) provide for a public notice and comment period before issuing the guidance in final form; and (2) make available to the public, when issuing guidance in final form, all studies, data, and other analysis relied upon by the CFPB in preparing and issuing such guidance.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 4684 IN THE HOUSE OF REPRESENTATIVES May 20, 2014 Mr. Stutzman introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide for a notice and comment period before the Bureau of Consumer Financial Protection issues guidance, and for other purposes.

1. Short title This Act may be cited as the Bureau Guidance Transparency Act . 2. Standards for issuing guidance Section 1022(b) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512(b) ) is amended by adding at the end the following: (5) Standards for issuing guidance In issuing any guidance, the Bureau shall— (A) provide for a public notice and comment period before issuing the guidance in final form; and (B) when issuing guidance in final form, make available to the public, including on the website of the Bureau, all studies, data, and other analysis relied on by the Bureau in preparing and issuing such guidance. .