3.0.0 2212 2023-01-11T13:26:35Z 2023-01-11T13:26:35Z Senate S S 2014-04-03 113 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2014-04-03T21:30:15Z Consumer Financial Freedom and Washington Accountability Act 113 3193 HR 2014-03-04 Received in the Senate. Related bill CRS 2014-04-03 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2014-04-03 Introduced in Senate IntroReferral 10000 9 Library of Congress F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE N B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2014-04-07 False I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2014-04-07 False S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2014-04-07 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Consumer Financial Protection Bureau Department of the Treasury Financial Stability Oversight Council Financial services and investments Finance and Financial Sector 00 2014-04-03 Introduced in Senate 2014-06-20T15:07:09Z CFPB Improvement Act of 2014 - Amends the Consumer Financial Protection Act of 2010 to authorize the Chairperson of the Financial Stability Oversight Council to issue a stay of, or set aside, any regulation issued by the Consumer Financial Protection Bureau (CFPB) upon the affirmative vote of the majority of Council members (currently, two-thirds), excluding the Director. .

Requires the Council, upon the petition of a member agency of the Council, to set aside a final regulation prescribed by the CFPB if the Council decides that such regulation is inconsistent with the safe and sound operations of U.S. financial institutions. (Currently the Council is merely authorized, upon petition, to set aside a final regulation if it would put the safety and soundness of the U.S. banking system or the stability of the U.S. financial system at risk.)

Repeals: (1) the prohibition against Council set-aside of a regulation after expiration of a specified time period, and (2) mandatory dismissal of a petition if the Council has not issued a decision within such time period.

Requires the CFPB Director, when prescribing a rule under federal consumer financial laws, to consider its impact upon the financial safety or soundness of an insured depository institution.

]]> CFPB Improvement Act of 2014 Display Title CFPB Improvement Act of 2014 Official Title as Introduced A bill to amend the Consumer Financial Protection Act of 2010 to strengthen the review authority of the Financial Stability Oversight Council of regulations issued by the Bureau of Consumer Financial Protection, and for other purposes. Introduced in Senate IS Short Titles as Introduced CFPB Improvement Act of 2014 Introduced in Senate 2014-04-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s2212is/xml/BILLS-113s2212is.xml 2014-04-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.