3.0.0 5527 2023-01-11T13:32:45Z 2023-01-11T13:32:45Z House HR 2016-06-16 114 [Congressional Record Volume 162, Number 96 (Thursday, June 16, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. WILLIAMS:H.R. 5527.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 (To regulate Commerce withforeign Nations, and among the several States, and with theIndian Tribes)[Page H3968]]]> hsbu00 Budget Committee House Standing Referred to 2016-06-16T13:01:40Z hsru00 Rules Committee House Standing Referred to 2016-06-16T13:01:35Z hsba00 Financial Services Committee House Standing Referred to 2016-06-16T13:01:30Z Regulations from the Executive in Need of Scrutiny Act of 2015 114 427 HR 2015-12-02 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 307. Related bill CRS Stop the EPA Act of 2015 114 3056 HR 2015-07-29 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Related bill CRS Regulations From the Executive in Need of Scrutiny Act of 2015 114 226 S 2015-01-21 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. Related bill CRS Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS 2016-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 2016-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsru00 Rules Committee 2016-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2016-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2016-06-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-06-16 Introduced in House IntroReferral 1000 9 Library of Congress W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 N D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2016-07-06 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2016-07-06 False Finance and Financial Sector Administrative law and regulatory procedures Advanced technology and technological innovations Business investment and capital Competition and antitrust Competitiveness, trade promotion, trade deficits Congressional oversight Consumer Financial Protection Bureau Economic performance and conditions Financial services and investments Industrial policy and productivity Inflation and prices Judicial review and appeals Legislative rules and procedure Unemployment Finance and Financial Sector 00 2016-06-16 Introduced in House 2016-09-29T20:54:35Z CFPB Rule Accountability Act of 2016

This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB), before any federal agency rule may take effect, to publish in the Federal Register a list of information on which the rule is based, including data, scientific and economic studies, and cost-benefit analyses, identify how the public can access such information online, and report to Congress and to the Government Accountability Office a classification of the rule as a major or nonmajor rule.

Congress must enact a joint resolution of approval of major rules before they may take effect. If a joint resolution of approval is not enacted by the end of 70 session days or legislative days, as applicable, after the CFPB reports on the rule to Congress, the major rule shall be deemed not to be approved and shall not take effect. A major rule may take effect, however, for one 90-calendar day period without such approval if the President determines it is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement.

The bill prescribes the congressional approval procedure for major rules and the congressional disapproval procedure for nonmajor rules.

A joint resolution addressing a report classifying a rule as a major rule must be introduced within three legislative days in the House of Representative and three session days in the Senate. No amendments to such a joint resolution shall be permitted at any stage of the legislative process. The bill prescribes a procedure for expedited consideration of a joint resolution of approval, requiring a vote on the resolution in the Senate within 15 session days after it is reported by the committee to which it was referred, or after the committee has been discharged from further consideration of it.

A court may review whether an agency has completed the necessary requirements under this bill for a rule to take effect. No determination, finding, action, or omission under this bill shall be subject to judicial review.

The Balanced Budget and Emergency Deficit Control Act of 1985 is amended to provide that any congressional approval procedure set forth in this bill affecting budget authority, outlays, or receipts shall be assumed to be effective unless it is not approved in accordance with this Act.

]]> CFPB Rule Accountability Act of 2016 Display Title CFPB Rule Accountability Act of 2016 Official Title as Introduced To amend the Consumer Financial Protection Act of 2010 to require congressional review of rulemaking of the Bureau of Consumer Financial Protection, and for other purposes. Introduced in House IH Short Titles as Introduced CFPB Rule Accountability Act of 2016 Introduced in House 2016-06-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5527ih/xml/BILLS-114hr5527ih.xml 2016-06-16 Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.