[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3193 Reported in House (RH)]
Union Calendar No. 256
113th CONGRESS
2d Session
H. R. 3193
[Report No. 113-346]
To amend the Consumer Financial Protection Act of 2010 to strengthen
the review authority of the Financial Stability Oversight Council of
regulations issued by the Bureau of Consumer Financial Protection, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 26, 2013
Mr. Duffy introduced the following bill; which was referred to the
Committee on Financial Services
February 6, 2014
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed
_______________________________________________________________________
A BILL
To amend the Consumer Financial Protection Act of 2010 to strengthen
the review authority of the Financial Stability Oversight Council of
regulations issued by the Bureau of Consumer Financial Protection, and
for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Consumer Financial Protection Safety
and Soundness Improvement Act of 2013''.
SEC. 2. COUNCIL VOTING PROCEDURE.
Section 1023(c)(3)(A) of the Consumer Financial Protection Act of
2010 (12 U.S.C. 5513(c)(3)(A)) is amended--
(1) by striking ``\2/3\'' and inserting ``a majority''; and
(2) by inserting before the period the following: ``,
excluding the Director of the Bureau''.
SEC. 3. REVIEW AUTHORITY OF THE COUNCIL.
Section 1023 of the Consumer Financial Protection Act of 2010 (12
U.S.C. 5513) is amended--
(1) in subsection (a)--
(A) by striking ``may'' and inserting ``shall'';
and
(B) by striking ``regulation or provision would put
the safety and soundness of the United States banking
system or the stability of the financial system of the
United States at risk'' and inserting ``regulation
which is the subject of the petition is inconsistent
with the safe and sound operations of United States
financial institutions''; and
(2) in subsection (c)--
(A) in paragraph (3)(B)(ii), by striking ``would
put the safety and soundness of the United States
banking system or the stability of the financial system
of the United States at risk'' and inserting ``is
inconsistent with the safe and sound operations of
United States financial institutions'';
(B) in paragraph (4)--
(i) by striking subparagraph (B); and
(ii) by redesignating subparagraph (C) as
subparagraph (B);
(C) by striking paragraph (5); and
(D) by redesignating paragraphs (6), (7), and (8)
as paragraphs (5), (6), and (7), respectively.
SEC. 4. SAFETY AND SOUNDNESS CHECK.
Section 1022(b)(2)(A) of the Consumer Financial Protection Act of
2010 (12 U.S.C. 5512(b)(2)(A)) is amended--
(1) in clause (i), by striking ``and'' at the end;
(2) in clause (ii), by adding ``and'' at the end; and
(3) by adding at the end the following:
``(iii) the impact of such rule on the
financial safety or soundness of an insured
depository institution;''.
Union Calendar No. 256
113th CONGRESS
2d Session
H. R. 3193
[Report No. 113-346]
_______________________________________________________________________
A BILL
To amend the Consumer Financial Protection Act of 2010 to strengthen
the review authority of the Financial Stability Oversight Council of
regulations issued by the Bureau of Consumer Financial Protection, and
for other purposes.
_______________________________________________________________________
February 6, 2014
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed