3.0.0 5983 2023-01-11T13:33:50Z 2023-01-11T13:33:50Z House HR 2016-09-09 114 [Congressional Record Volume 162, Number 136 (Friday, September 9, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HENSARLING:H.R. 5983.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'');Article I, Section 8, Clause 5 (``To coin Money, regulatethe Value thereof, and of foreign Coin, and fix the Standardof Weights and Measures'');Article I, Section 8, Clause 6 (``To provide for thePunishment of counterfeiting the Securities and current Coinof the United States''); andArticle I, Section 8, Clause 18 (``To make all Laws whichshall be necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States or in anyDepartment or Officer thereof.'').[Page H5255]]]> hsed00 Education and the Workforce Committee House Standing Discharged from 2016-12-20T21:46:56Z Referred to 2016-09-09T13:02:30Z hsbu00 Budget Committee House Standing Discharged from 2016-12-20T21:46:51Z Referred to 2016-09-09T13:02:25Z hsru00 Rules Committee House Standing Discharged from 2016-12-20T21:46:47Z Referred to 2016-09-09T13:02:20Z hspw00 Transportation and Infrastructure Committee House Standing hspw13 Economic Development, Public Buildings, and Emergency Management Subcommittee Referred to 2016-09-12T14:26:00Z Discharged from 2016-12-20T21:46:42Z Referred to 2016-09-09T13:02:15Z hsgo00 Oversight and Accountability Committee House Standing Discharged from 2016-12-20T21:46:36Z Referred to 2016-09-09T13:02:10Z hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Referred to 2016-09-15T17:12:53Z Discharged from 2016-12-20T21:46:30Z Referred to 2016-09-09T13:02:05Z hswm00 Ways and Means Committee House Standing Discharged from 2016-12-20T21:46:26Z Referred to 2016-09-09T13:02:00Z hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2016-09-23T13:26:43Z Discharged from 2016-12-20T21:46:19Z Referred to 2016-09-09T13:01:50Z hsba00 Financial Services Committee House Standing Reported by 2016-12-20T21:46:02Z Markup by 2016-09-13T16:58:46Z Referred to 2016-09-09T13:01:45Z H. Rept. 114-883 Risk-Based Credit Examination Act 114 5991 HR 2016-09-09 Referred to the House Committee on Financial Services. Related bill CRS Crowdfunding Enhancement Act 114 3453 S 2016-09-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S6238; text of measure as introduced: CR S6238) Related bill CRS Federal Reserve Transparency Act of 2015 114 24 HR 2016-07-14 Placed on the Union Calendar, Calendar No. 536. Related bill CRS 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 Preserving Access to Manufactured Housing Act of 2015 114 650 HR 2015-04-15 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 114 686 HR 2016-01-28 Placed on the Union Calendar, Calendar No. 303. Related bill CRS Financial Institution Customer Protection Act of 2016 114 766 HR 2016-02-08 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Retail Investor Protection Act 114 1090 HR 2015-10-28 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Portfolio Lending and Mortgage Access Act 114 1113 HR 2015-02-26 Referred to the House Committee on Financial Services. Related bill CRS Portfolio Lending and Mortgage Access Act 114 1210 HR 2015-11-19 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Financial Product Safety Commission Act of 2015 114 1266 HR 2016-12-12 Placed on the Union Calendar, Calendar No. 682. Related bill CRS Community Institution Mortgage Relief Act of 2015 114 1529 HR 2015-04-06 Placed on the Union Calendar, Calendar No. 38. Related bill CRS Capital Markets Improvement Act of 2016 114 1675 HR 2016-02-04 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Right to Lend Act of 2015 114 1766 HR 2015-04-14 Referred to the House Committee on Financial Services. Related bill CRS Financial Institutions Examination Fairness and Reform Act 114 1941 HR 2016-12-12 Placed on the Union Calendar, Calendar No. 684. Related bill CRS Small Company Disclosure Simplification Act 114 1965 HR 2016-01-28 Placed on the Union Calendar, Calendar No. 302. Related bill CRS Securities and Exchange Commission Overpayment Credit Act 114 1975 HR 2016-04-19 Placed on the Union Calendar, Calendar No. 385. Related bill CRS SAFE Transitional Licensing Act of 2015 114 2121 HR 2016-05-24 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Fair Investment Opportunities for Professional Experts Act 114 2187 HR 2016-02-02 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS National Credit Union Administration Budget Transparency Act 114 2287 HR 2016-12-12 Placed on the Union Calendar, Calendar No. 678. Related bill CRS Fair Access to Investment Research Act of 2015 114 2356 HR 2016-01-28 Placed on the Union Calendar, Calendar No. 304. Related bill CRS Accelerating Access to Capital Act of 2016 114 2357 HR 2016-09-12 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Sunset Act of 2015 114 2778 HR 2015-07-01 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Related bill CRS Centennial Monetary Commission Act of 2015 114 2912 HR 2015-11-16 Placed on the Union Calendar, Calendar No. 252. Related bill CRS Financial Institution Bankruptcy Act of 2016 114 2947 HR 2016-04-13 Received in the Senate and Read twice and referred to the Committee on the Judiciary. 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 FORM Act of 2015 114 3189 HR 2015-12-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS FSOC Transparency and Accountability Act 114 3557 HR 2016-04-19 Placed on the Union Calendar, Calendar No. 387. Related bill CRS SEC Small Business Advocate Act of 2016 114 3784 HR 2016-12-16 Became Public Law No: 114-284. Related bill CRS Small Business Credit Availability Act 114 3868 HR 2016-05-19 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Related bill CRS Fostering Innovation Act of 2015 114 4139 HR 2016-05-24 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Helping Angels Lead Our Startups Act 114 4498 HR 2016-04-28 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Senior Safe Act of 2016 114 4538 HR 2016-07-06 Received in the Senate. Related bill CRS Main Street Growth Act 114 4638 HR 2016-06-08 Placed on the Union Calendar, Calendar No. 474. Related bill CRS FDIC Accountability Act of 2016 114 4781 HR 2016-03-17 Referred to the House Committee on Financial Services. Related bill CRS Micro Offering Safe Harbor Act 114 4850 HR 2016-09-06 Placed on the Union Calendar, Calendar No. 561. Related bill CRS Private Placement Improvement Act of 2016 114 4852 HR 2016-09-06 Placed on the Union Calendar, Calendar No. 562. Related bill CRS Supporting America's Innovators Act of 2016 114 4854 HR 2016-07-06 Received in the Senate. Related bill CRS Fix Crowdfunding Act 114 4855 HR 2016-07-06 Received in the Senate. Related bill CRS Home Mortgage Disclosure Adjustment Act 114 4997 HR 2016-04-20 Referred to the House Committee on Financial Services. Related bill CRS Fair Access to Investment Research Act of 2016 114 5019 HR 2016-05-09 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS CFPB Dual Mandate and Economic Analysis Act 114 5211 HR 2016-05-12 Referred to the House Committee on Financial Services. Related bill CRS Corporate Governance Reform and Transparency Act of 2016 114 5311 HR 2016-09-28 Placed on the Union Calendar, Calendar No. 621. Related bill CRS Credit Union Examination Reform Act of 2016 114 5419 HR 2016-06-09 Referred to the House Committee on Financial Services. Related bill CRS Bureau Advisory Opinion Act of 2016 114 5453 HR 2016-06-10 Referred to the House Committee on Financial Services. Related bill CRS Protecting Consumer Financial Information Act 114 5455 HR 2016-06-10 Referred to the House Committee on Financial Services. Related bill CRS GSE Review and Reform Act of 2016 114 5505 HR 2016-06-16 Referred to the House Committee on Financial Services. Related bill CRS RIGHTS at the CFPB Act of 2016 114 5521 HR 2016-06-16 Referred to the House Committee on Financial Services. Related bill CRS To amend the Consumer Financial Protection Act of 2010 to require that civil investigative demands be appealed to courts, and for other purposes. 114 5522 HR 2016-06-16 Referred to the House Committee on Financial Services. Related bill CRS CFPB Rule Accountability Act of 2016 114 5527 HR 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. Related bill CRS To amend the Federal Credit Union Act to require the National Credit Union Administration Board to provide a rationale for any amounts the Board proposes to use from the National Credit Union Share Insurance Fund, and for other purposes. 114 5869 HR 2016-07-14 Referred to the House Committee on Financial Services. Related bill CRS Keep Taxpayer Dollars Safe from Terrorists Act of 2016 114 5941 HR 2016-09-06 Referred to the Committee on Foreign Affairs, and in addition to the Committee on Rules, 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. 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 Encouraging Employee Ownership Act 114 576 S 2015-03-24 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Related bill CRS Preserving Access to Manufactured Housing Act of 2015 114 682 S 2015-04-16 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS National Credit Union Administration Budget Transparency Act 114 924 S 2015-04-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2015 114 1010 S 2015-04-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Stronger Enforcement of Civil Penalties Act of 2015 114 1730 S 2015-07-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4956) Related bill CRS Centennial Monetary Commission Act of 2015 114 1786 S 2015-07-16 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5172-5173) Related bill CRS Taxpayer Protection and Responsible Resolution Act 114 1840 S 2015-07-29 Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection. Hearings held. Related bill CRS Taxpayer Protection and Responsible Resolution Act 114 1841 S 2015-07-22 Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S5464-5468) Related bill CRS FDA Regulatory Efficiency Act 114 2187 S 2015-10-21 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS Reforming CFPB Indirect Auto Financing Guidance Act 114 2663 S 2016-04-07 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-520. Related bill CRS Federal Savings Association Charter Flexibility Act of 2016 114 2722 S 2016-03-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Financial Institution Customer Protection Act of 2016 114 2790 S 2016-04-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS SEC Small Business Advocate Act of 2016 114 2867 S 2016-06-14 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS Portfolio Lending and Mortgage Access Act 114 2995 S 2016-05-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Fair Access to Investment Research Act of 2016 114 3092 S 2016-06-23 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Consumer Financial Protection Board Act of 2016 114 3196 S 2016-07-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Bureau of Consumer Financial Protection Advisory Boards Act 114 1195 HR 2015-04-23 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Consumer Right to Financial Privacy Act of 2015 114 1262 HR 2015-03-04 Referred to the House Committee on Financial Services. Related bill CRS Reforming CFPB Indirect Auto Financing Guidance Act 114 1737 HR 2015-11-19 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Small Business Capital Formation Enhancement Act 114 4168 HR 2016-02-03 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 361. Related bill CRS To repeal title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 114 4894 HR 2016-05-19 Placed on the Union Calendar, Calendar No. 444. Related bill CRS Municipal Advisor Choice Act 114 5596 HR 2016-06-28 Referred to the House Committee on Financial Services. Related bill CRS Creating Financial Prosperity for Businesses and Investors Act 114 6427 HR 2016-12-06 Received in the Senate. Related bill CRS 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Calendars H12410 2 House floor actions U00693 2016-12-20 Committee on Education and the Workforce discharged. Discharge H12300 2 House floor actions hsed00 Education and the Workforce Committee 2016-12-20 Committee on Education and the Workforce discharged. Committee 5500 9 Library of Congress hsed00 Education and the Workforce Committee 2016-12-20 Committee on the Budget discharged. Discharge H12300 2 House floor actions hsbu00 Budget Committee 2016-12-20 Committee on the Budget discharged. Committee 5500 9 Library of Congress hsbu00 Budget Committee 2016-12-20 Committee on Rules discharged. Discharge H12300 2 House floor actions hsru00 Rules Committee 2016-12-20 Committee on Rules discharged. Committee 5500 9 Library of Congress hsru00 Rules Committee 2016-12-20 Committee on Transportation discharged. Discharge H12300 2 House floor actions hspw00 Transportation and Infrastructure Committee 2016-12-20 Committee on Transportation discharged. Committee 5500 9 Library of Congress hspw00 Transportation and Infrastructure Committee 2016-12-20 Committee on Oversight and Government discharged. Discharge H12300 2 House floor actions hsgo00 Oversight and Accountability Committee 2016-12-20 Committee on Oversight and Government discharged. Committee 5500 9 Library of Congress hsgo00 Oversight and Accountability Committee 2016-12-20 Committee on the Judiciary discharged. Discharge H12300 2 House floor actions hsju00 Judiciary Committee 2016-12-20 Committee on the Judiciary discharged. Committee 5500 9 Library of Congress hsju00 Judiciary Committee 2016-12-20 Committee on Ways and Means discharged. Discharge H12300 2 House floor actions hswm00 Ways and Means Committee 2016-12-20 Committee on Ways and Means discharged. Committee 5500 9 Library of Congress hswm00 Ways and Means Committee 2016-12-20 Committee on Agriculture discharged. Discharge H12300 2 House floor actions hsag00 Agriculture Committee 2016-12-20 Committee on Agriculture discharged. Committee 5500 9 Library of Congress hsag00 Agriculture Committee 2016-12-20 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-883, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2016-12-20 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-883, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2016-09-23 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Committee 2016-09-15 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Committee 2016-09-13 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 26. Committee 2016-09-13 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2016-09-12 hspw13 Economic Development, Public Buildings, and Emergency Management Subcommittee 1 House committee actions Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management. Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hsed00 Education and the Workforce Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hspw00 Transportation and Infrastructure Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hsgo00 Oversight and Accountability Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hsju00 Judiciary Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hswm00 Ways and Means Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 hsag00 Agriculture Committee 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 2016-09-09 Referred to the Committee on Financial Services, and in addition to the Committees on Agriculture, Ways and Means, the Judiciary, Oversight and Government Reform, Transportation and Infrastructure, Rules, the Budget, and Education and the Workforce, 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 2016-09-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-09-09 Introduced in House IntroReferral 1000 9 Library of Congress H001036 Rep. Hensarling, Jeb [R-TX-5] Jeb Hensarling R TX 5 N G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2016-09-09 True N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2016-09-09 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2016-09-09 True H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2016-09-09 True D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2016-09-09 True Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Advanced technology and technological innovations Advisory bodies Aging Appropriations Asia Bank accounts, deposits, capital Banking and financial institutions regulation Bankruptcy Business ethics Business investment and capital Business records Civil actions and liability Competition and antitrust Competitiveness, trade promotion, trade deficits Congressional oversight Consumer Financial Protection Bureau Consumer affairs Consumer credit Corporate finance and management Department of the Treasury Economic performance and conditions Employment discrimination and employee rights Evidence and witnesses Executive agency funding and structure Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Federal appellate courts Federal officials Financial services and investments Fraud offenses and financial crimes Government information and archives Government studies and investigations Industrial policy and productivity Inflation and prices Iran Judges Judicial procedure and administration Judicial review and appeals Legislative rules and procedure Licensing and registrations Middle East Minority and disadvantaged businesses Monetary policy National Credit Union Administration North Korea Securities Securities and Exchange Commission (SEC) Small business Syria Terrorism Unemployment User charges and fees Women in business Finance and Financial Sector 00 2016-09-09 Introduced in House 2016-12-05T16:40:49Z Financial CHOICE Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to:

  • repeal the "Volcker Rule" (which restricts banks from making certain speculative investments);
  • with respect to winding down failing banks, eliminate the Federal Deposit Insurance Corporation's orderly liquidation authority and establish new provisions regarding financial institution bankruptcy; and
  • repeal the "Durbin Amendment" (which limits the fees that may be charged to retailers for debit card processing).

Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements.

The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed. 

The bill also amends the Consumer Financial Protection Act of 2010 to:

  • restructure the Consumer Financial Protection Bureau by replacing its director with a bipartisan commission;
  • subject the commission to the congressional appropriations process, expanded judicial review, and additional congressional oversight; and
  • limit the commission's authority to take action against entities for "abusive" practices.

In addition, the bill:

  • modifies provisions related to the Securities and Exchange Commission's managerial structure and enforcement authority;
  • eliminates the Office of Financial Research within the Department of the Treasury; and
  • revises provisions related to capital formation, insurance regulation, civil penalties for securities laws violations, and community financial institutions.
]]> 18 2016-12-20 Reported to House amended, Part I 2017-01-27T19:16:20Z Financial CHOICE Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to:

  • repeal the "Volcker Rule" (which restricts banks from making certain speculative investments);
  • with respect to winding down failing banks, eliminate the Federal Deposit Insurance Corporation's orderly liquidation authority and establish new provisions regarding financial institution bankruptcy; and
  • repeal the "Durbin Amendment" (which limits the fees that may be charged to retailers for debit card processing).

Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements.

The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed. 

The bill also amends the Consumer Financial Protection Act of 2010 to:

  • restructure the Consumer Financial Protection Bureau by replacing its director with a bipartisan commission;
  • subject the commission to the congressional appropriations process, expanded judicial review, and additional congressional oversight; and
  • limit the commission's authority to take action against entities for "abusive" practices.

In addition, the bill:

  • modifies provisions related to the Securities and Exchange Commission's managerial structure and enforcement authority;
  • eliminates the Office of Financial Research within the Department of the Treasury; and
  • revises provisions related to capital formation, insurance regulation, civil penalties for securities laws violations, and community financial institutions.
]]> Financial CHOICE Act of 2016 Display Title Financial CHOICE Act of 2016 Short Titles as Introduced Financial CHOICE Act of 2016 Short Titles as Reported to House Financial CHOICE Act of 2016 H House Official Title as Introduced To create hope and opportunity for consumers, investors, and entrepreneurs by ending bailouts and Too Big to Fail, holding Washington and Wall Street accountable, eliminating red tape to increase access to capital and credit, and repealing the provisions of the Dodd-Frank Act that make America less prosperous, less stable, and less free, and for other purposes. Reported in House 2016-12-20T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5983rh/xml/BILLS-114hr5983rh.xml Introduced in House 2016-09-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5983ih/xml/BILLS-114hr5983ih.xml 2016-12-20 Placed on the Union Calendar, Calendar No. 693. 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.