RIGHTS at the CFPB Act of 2016

Bill: 114-hr-5521
Sponsor: full_name: Rep. Messer, Luke [R-IN-6]
Introduced: 2016-06-16
Policy area: Finance and Financial Sector
Subjects: Administrative remedies

Civil actions and liability

Consumer Financial Protection Bureau

Consumer credit

Financial services and investments
Latest action: action_date: 2016-06-16
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-06-16
action_desc: Introduced in House
text: <p><b>Reigning In of Governmental Hostility To Sovereignty at the CFPB Act of 2016 or the RIGHTS at the CFPB Act of 2016</b></p> <p>This bill amends the Consumer Financial Protection Act of 2010 to authorize any person who is a party to an adjudicative administrative proceeding brought by the Consumer Financial Protection Bureau (CFPB), and against whom an order imposing a cease and desist order or a penalty may be issued at the proceeding's conclusion, to require the CFPB to terminate the proceeding. The termination request must be made within 20 days after the person receives notice of the proceeding.</p> <p>If such a person does require the CFPB to terminate a proceeding, the CFPB may still bring a civil action against the person for the same remedy that might be imposed.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5521 IN THE HOUSE OF REPRESENTATIVES June 16, 2016 Mr. Messer introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Consumer Financial Protection Act of 2010 to authorize private parties to compel the Bureau to seek sanctions by filing civil actions, and for other purposes.

1. Short title This Act may be cited as the Reigning In of Governmental Hostility To Sovereignty at the CFPB Act of 2016 or the RIGHTS at the CFPB Act of 2016 . 2. Private parties authorized to compel the Bureau to seek sanctions by filing civil actions; Adjudications deemed actions Section 1053 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5563 ) is amended by adding at the end the following: (f) Private parties authorized To compel the Bureau To seek sanctions by filing civil actions (1) Termination of administrative proceeding In the case of any person who is a party to a proceeding brought by the Bureau under this section, to which chapter 5 of title 5, United States Code, applies, and against whom an order imposing a cease and desist order or a penalty may be issued at the conclusion of the proceeding, that person may, not later than 20 days after receiving notice of such proceeding, and at that person’s discretion, require the Bureau to terminate the proceeding. (2) Civil action authorized If a person requires the Bureau to terminate a proceeding pursuant to paragraph (1), the Bureau may bring a civil action against that person for the same remedy that might be imposed. (g) Adjudications deemed actions Any administrative adjudication commenced under this section shall be deemed an action for purposes of section 1054(g). .