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      <constitutionalAuthorityStatementText>&lt;pre&gt;[Congressional Record Volume 169, Number 68 (Monday, April 24, 2023)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. BARR:H.R. 2798.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3: to regulate commerce withforeign nations, and among the several states, and with theIndian tribes; andArticle 1, Section 8, Clause 18: to make all Laws whichshall be necessary and proper for carrying into ExecutionforegoingThe single subject of this legislation is:To make reforms to the Consumer Financial Protection Board[Page H1915]&lt;/pre&gt;</constitutionalAuthorityStatementText>
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          <actionDate>2023-03-07</actionDate>
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          <text>Referred to the Committee on Oversight and Accountability, and in addition to the Committee on Financial Services, 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>
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          <text>Referred to the Committee on the Judiciary, and in addition to the Committees on Small Business, and Financial Services, 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>
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        <title>H.R. 2798, CFPB Transparency and Accountability Reform Act</title>
        <url>https://www.cbo.gov/publication/59443</url>
        <description>As ordered reported by the House Committee on Financial Services on April 26, 2023</description>
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          <text>&lt;p&gt;&lt;b&gt;CFPB Transparency and Accountability Reform Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt; This bill changes the structure, funding, and rulemaking procedures of the Consumer Financial Protection Bureau. &lt;/p&gt; &lt;p&gt;The bill removes the bureau from the Federal Reserve System and reestablishes it as an independent agency. The bill also changes the leadership structure by establishing a five-person commission led by a chair rather than a director as under current law. The bill eliminates the bureau's ability to receive funding through transfers from the Federal Reserve and brings the bureau under the regular appropriations process. The bill also establishes a separate inspector general for the bureau. Currently, the bureau is under the supervision of the Federal Reserve's Inspector General. &lt;/p&gt; &lt;p&gt;Additionally, the bill creates within the bureau the Office of Economic Analysis that must review all proposed and existing guidance, orders, rules, and regulations. In the course of a rulemaking, the office must publish an assessment of all anticipated direct and indirect costs and benefits of the proposed regulation and of any reasonable alternatives. As part of the required analysis under the Regulatory Flexibility Act, the bureau must describe the impact on small businesses of proposed and final rules and a justification for the rejection of any alternatives. &lt;/p&gt; &lt;p&gt;Finally, the bill requires the bureau to provide awards to whistleblowers who report information resulting in monetary sanctions.&lt;/p&gt;</text>
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        <actionDate>2023-12-04</actionDate>
        <actionDesc>Reported to House, Part I</actionDesc>
        <updateDate>2024-01-22T14:59:48Z</updateDate>
        <cdata>
          <text>&lt;p&gt;&lt;b&gt;CFPB Transparency and Accountability Reform Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt; This bill changes the structure, funding, and rulemaking procedures of the Consumer Financial Protection Bureau. &lt;/p&gt; &lt;p&gt;The bill removes the bureau from the Federal Reserve System and reestablishes it as an independent agency. The bill also changes the leadership structure by establishing a five-person commission led by a chair rather than a director as under current law. The bill eliminates the bureau's ability to receive funding through transfers from the Federal Reserve and brings the bureau under the regular appropriations process. The bill also establishes a separate inspector general for the bureau. Currently, the bureau is under the supervision of the Federal Reserve's Inspector General. &lt;/p&gt; &lt;p&gt;Additionally, the bill creates within the bureau the Office of Economic Analysis that must review all proposed and existing guidance, orders, rules, and regulations. In the course of a rulemaking, the office must publish an assessment of all anticipated direct and indirect costs and benefits of the proposed regulation and of any reasonable alternatives. As part of the required analysis under the Regulatory Flexibility Act, the bureau must describe the impact on small businesses of proposed and final rules and a justification for the rejection of any alternatives. &lt;/p&gt; &lt;p&gt;Finally, the bill requires the bureau to provide awards to whistleblowers who report information resulting in monetary sanctions.&lt;/p&gt;</text>
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        <title>CFPB Transparency and Accountability Reform Act</title>
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        <titleType>Short Title(s) as Introduced for portions of this bill</titleType>
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      <item>
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        <titleType>Short Title(s) as Introduced for portions of this bill</titleType>
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      <item>
        <titleType>Short Title(s) as Introduced for portions of this bill</titleType>
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        <titleType>Short Title(s) as Introduced for portions of this bill</titleType>
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      <item>
        <titleType>Short Title(s) as Introduced for portions of this bill</titleType>
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        <title>CFPB Transparency and Accountability Reform Act</title>
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        <title>To make reforms to the Bureau of Consumer Financial Protection, and for other purposes.</title>
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        <date>2023-12-04T05:00:00Z</date>
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    <dc:rights>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.</dc:rights>
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