[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2612 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2612

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
to repeal the authority of the Bureau of Consumer Financial Protection 
                 to prohibit certain acts or practices.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 21, 2011

 Mr. Mack (for himself, Mr. Gosar, Mr. Gowdy, and Mr. Ross of Florida) 
 introduced the following bill; which was referred to the Committee on 
  Financial Services, and in addition to the Committee on Energy and 
Commerce, 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

_______________________________________________________________________

                                 A BILL


 
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
to repeal the authority of the Bureau of Consumer Financial Protection 
                 to prohibit certain acts or practices.

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

SECTION 1. REPEAL.

    (a) In General.--Section 1031 of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act is hereby repealed.
    (b) Conforming Amendments.--
            (1) Dodd-frank act.--The Dodd-Frank Wall Street Reform and 
        Consumer Protection Act is amended--
                    (A) in the table of contents for such Act, by 
                striking the item relating to section 1031;
                    (B) in section 1036(a)--
                            (i) in paragraph (1)(B), by adding ``or'' 
                        at the end;
                            (ii) in paragraph (2)(C), by striking ``; 
                        or'' and inserting a period; and
                            (iii) by striking paragraph (3); and
                    (C) in section 1061(b)(5)--
                            (i) by amending subparagraph (B) to read as 
                        follows:
                    ``(B) Bureau authority.--The Bureau shall have all 
                powers and duties under the enumerated consumer laws to 
                prescribe rules, issue guidelines, or to conduct 
                studies or issue reports mandated by such laws, that 
                were vested in the Federal Trade Commission on the day 
                before the designated transfer date.'';
                            (ii) by striking subparagraph (D); and
                            (iii) by redesignating subparagraph (E) as 
                        subparagraph (D).
            (2) Telemarketing and consumer fraud and abuse prevention 
        act.--Section 3(c) of the Telemarketing and Consumer Fraud and 
        Abuse Prevention Act is amended to read as follows:
    ``(c) Violations.--Any violation of any rule prescribed under 
subsection (a) shall be treated as a violation of a rule under section 
18 of the Federal Trade Commission Act regarding unfair or deceptive 
acts or practices.''.
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