[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5999 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5999

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
              to repeal the Office of Financial Research.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 30, 2010

Mr. Hensarling introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
              to repeal the Office of Financial Research.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF THE OFFICE OF FINANCIAL RESEARCH.

    (a) In General.--Subtitle B of title I of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act is hereby repealed.
    (b) Conforming Amendments to the Dodd-Frank Act.--The Dodd-Frank 
Wall Street Reform and Consumer Protection Act is amended--
            (1) in section 102(a), by striking paragraph (5);
            (2) in section 111--
                    (A) in subsection (b)(2)--
                            (i) by striking subparagraph (A); and
                            (ii) by redesignating subparagraphs (B), 
                        (C), (D), and (E) as subparagraphs (A), (B), 
                        (C), and (D), respectively;
                    (B) in subsection (c), by striking ``subparagraphs 
                (C), (D), and (E)'' and inserting ``subparagraphs (B), 
                (C), and (D)'';
            (3) in section 112--
                    (A) in subsection (a)(2)--
                            (i) in subparagraph (A), by striking 
                        ``direct the Office of Financial Research to'';
                            (ii) by striking subparagraph (B); and
                            (iii) by redesignating subparagraphs (C), 
                        (D), (E), (F), (G), (H), (I), (J), (K), (L), 
                        (M), and (N) as subparagraphs (B), (C), (D), 
                        (E), (F), (G), (H), (I), (J), (K), (L), and 
                        (M), respectively; and
                    (B) in subsection (d)--
                            (i) in paragraph (1), by striking ``the 
                        Office of Financial Research, member agencies, 
                        and'' and inserting ``member agencies and'';
                            (ii) in paragraph (2), by striking ``the 
                        Office of Financial Research, any member 
                        agency, and'' and inserting ``any member agency 
                        and'';
                            (iii) in paragraph (3)--
                                    (I) by striking ``, acting through 
                                the Office of Financial Research,'' 
                                each place it appears; and
                                    (II) in subparagraph (B), by 
                                striking ``the Office of Financial 
                                Research or''; and
                            (iv) in paragraph (5)(A), by striking ``, 
                        the Office of Financial Research,'';
            (4) in section 116, by striking ``, acting through the 
        Office of Financial Research,'' each place it appears; and
            (5) by striking section 118.
    (c) Conforming Amendment to the Paperwork Reduction Act.--Section 
2(5) of the Paperwork Reduction Act is amended by striking ``the Office 
of Financial Research,''.
    (d) Technical Amendments.--The table of contents for the Dodd-Frank 
Wall Street Reform and Consumer Protection Act is amended--
            (1) by striking the item relating to section 118; and
            (2) by striking the items relating to subtitle B of title 
        I.
                                 <all>