Protecting Consumers from Frivolous Claims Act of 2017

Bill: 115-hr-3601
Sponsor: full_name: Rep. Kustoff, David [R-TN-8]
Introduced: 2017-07-28
Policy area: Finance and Financial Sector
Subjects: Consumer Financial Protection Bureau

Consumer credit

Economic development

Executive agency funding and structure

Government information and archives

Marketing and advertising
Latest action: action_date: 2017-07-28
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2017-07-28
action_desc: Introduced in House
text: <p><b>Protecting Consumers from Frivolous Claims Act of 2017</b></p> <p>This bill prohibits the Consumer Financial Protection Bureau (CFPB)&nbsp;from sharing with the public certain data regarding consumer complaints about financial products and services.</p> <p>The bill also eliminates&nbsp;requirements for the CFPB to establish (1) a community-affairs unit; and (2) a unit to research and report on topics including consumer awareness of the costs, risks, and benefits of consumer financial products and services.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 3601 IN THE HOUSE OF REPRESENTATIVES July 28, 2017 Mr. Kustoff of Tennessee 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 clarify data and information sharing requirements regarding consumer complaints, and for other purposes.

1. Short Title This Act may be cited as the Protecting Consumers from Frivolous Claims Act of 2017 . 2. Promoting discretion within the Consumer Financial Protection Act Subsection (b) of section 1013 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5493(b) ) is amended— (a) in paragraph (1), by striking shall establish and inserting may establish ; (b) in paragraph (2), by striking shall establish and inserting may establish ; and (c) in subsection (D) of paragraph (3)— (1) by striking To facilitate preparation of the reports required under subparagraph (C), supervision and enforcement activities, and monitoring of the market for consumer financial products and services, the and inserting The ; and (2) by adding at the end the following: Information collected under this paragraph may not be made publicly available. .