[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1737 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 250
114th CONGRESS
  1st Session
                                H. R. 1737

                          [Report No. 114-329]

    To nullify certain guidance of the Bureau of Consumer Financial 
   Protection and to provide requirements for guidance issued by the 
             Bureau with respect to indirect auto lending.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 13, 2015

Mr. Guinta (for himself, Mr. Perlmutter, Mr. Stutzman, Mr. David Scott 
  of Georgia, Mr. Stivers, Mr. Sherman, Mr. Williams, Mr. Kildee, and 
 Mrs. Beatty) introduced the following bill; which was referred to the 
                    Committee on Financial Services

                            November 9, 2015

 Additional sponsors: Mr. Neugebauer, Mr. Bishop of Georgia, Mr. Barr, 
Mr. Cooper, Mr. Dold, Ms. Frankel of Florida, Mrs. Lummis, Mr. Gibson, 
Mr. Gibbs, Ms. Kuster, Mr. Joyce, Ms. Sinema, Mr. Tiberi, Mr. Schrader, 
 Mr. Chabot, Mr. Ryan of Ohio, Mr. Tipton, Mr. Lipinski, Mr. Wenstrup, 
  Ms. Duckworth, Mr. Latta, Ms. Bordallo, Mr. Guthrie, Mr. Murphy of 
    Florida, Mr. Sam Johnson of Texas, Mr. Ashford, Mr. Turner, Mr. 
 Cuellar, Mr. Duffy, Ms. Wilson of Florida, Mr. Hultgren, Mr. Bucshon, 
Mr. Gene Green of Texas, Mr. Hill, Mrs. Bustos, Mr. Renacci, Mr. Welch, 
Mr. Graves of Georgia, Mr. Hastings, Mr. McHenry, Ms. Jackson Lee, Mr. 
Fincher, Mr. Graves of Louisiana, Mr. Johnson of Ohio, Ms. DelBene, Mr. 
  Luetkemeyer, Mr. Hinojosa, Mr. Ribble, Mr. Israel, Mr. Swalwell of 
 California, Mr. Kind, Mr. MacArthur, Mr. Sessions, Mr. Loebsack, Mr. 
      Olson, Ms. Loretta Sanchez of California, Mr. Paulsen, Mr. 
 Sensenbrenner, Ms. Titus, Mr. Pearce, Mrs. Hartzler, Mr. Veasey, Ms. 
   Herrera Beutler, Ms. Brownley of California, Mr. Schweikert, Mr. 
 Palazzo, Mr. Vargas, Mr. Gosar, Mr. Messer, Mr. Walz, Mr. Hanna, Ms. 
 Stefanik, Mr. Vela, Mr. Yoder, Mr. Emmer of Minnesota, Mr. Michael F. 
 Doyle of Pennsylvania, Mr. Posey, Mr. Connolly, Mr. Westmoreland, Mr. 
    Pascrell, Mr. Valadao, Mr. Babin, Ms. Graham, Mr. Walberg, Mr. 
 Mulvaney, Mr. Kilmer, Mr. Lamborn, Miss Rice of New York, Mr. Jolly, 
Mr. Duncan of Tennessee, Mr. Brady of Pennsylvania, Mr. Collins of New 
 York, Mr. Simpson, Mr. Courtney, Mr. Marchant, Ms. Esty, Mr. Young of 
 Iowa, Ms. Gabbard, Mrs. Brooks of Indiana, Mr. Takai, Mr. Katko, Mr. 
    Costa, Mr. Grothman, Mr. Jordan, Mr. Peterson, Mrs. Torres, Ms. 
Wasserman Schultz, Mr. Rothfus, Mrs. Wagner, Mr. Goodlatte, Mr. King of 
New York, Mr. Quigley, Mr. Trott, Mr. Ted Lieu of California, Mr. Hurt 
 of Virginia, Mr. O'Rourke, Mr. Pittenger, Mrs. McMorris Rodgers, Mrs. 
 Kirkpatrick, Mr. Smith of Texas, Mr. Barletta, Mr. Brat, Mr. Huffman, 
   Mr. Zeldin, Mr. Lance, Ms. Granger, Mr. Cramer, Mr. Aguilar, Mr. 
 Harper, Mrs. Black, Mr. Grayson, Mr. Garrett, Mr. Rouzer, Mr. Rigell, 
   Ms. Castor of Florida, Mr. Griffith, Mr. Abraham, Mr. Sires, Mr. 
 Crawford, Ms. Brown of Florida, Mrs. Love, Mr. Pompeo, Mr. Zinke, Mr. 
  Norcross, Mr. Nunes, Mr. Allen, Mr. Hudson, Mr. Bishop of Utah, Mr. 
Coffman, Mr. Marino, Ms. Jenkins of Kansas, Mr. Sean Patrick Maloney of 
New York, Mr. Holding, Mr. Huelskamp, Mr. McKinley, Mr. Loudermilk, Mr. 
                  Kelly of Pennsylvania, and Mr. Farr

                            November 9, 2015

Committed to the Committee of the Whole House on the State of the Union 
                       and ordered to be printed

_______________________________________________________________________

                                 A BILL


 
    To nullify certain guidance of the Bureau of Consumer Financial 
   Protection and to provide requirements for guidance issued by the 
             Bureau with respect to indirect auto lending.


 


    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 ``Reforming CFPB Indirect Auto 
Financing Guidance Act''.

SEC. 2. NULLIFICATION OF AUTO LENDING GUIDANCE.

    Bulletin 2013-02 of the Bureau of Consumer Financial Protection 
(published March 21, 2013) shall have no force or effect.

SEC. 3. GUIDANCE REQUIREMENTS.

    Section 1022(b) of the Consumer Financial Protection Act of 2010 
(12 U.S.C. 5512(b)) is amended by adding at the end the following:
            ``(5) Guidance on indirect auto financing.--In proposing 
        and issuing guidance primarily related to indirect auto 
        financing, the Bureau shall--
                    ``(A) provide for a public notice and comment 
                period before issuing the guidance in final form;
                    ``(B) make available to the public, including on 
                the website of the Bureau, all studies, data, 
                methodologies, analyses, and other information relied 
                on by the Bureau in preparing such guidance;
                    ``(C) redact any information that is exempt from 
                disclosure under paragraph (3), (4), (6), (7), or (8) 
                of section 552(b) of title 5, United States Code;
                    ``(D) consult with the Board of Governors of the 
                Federal Reserve System, the Federal Trade Commission, 
                and the Department of Justice; and
                    ``(E) conduct a study on the costs and impacts of 
                such guidance to consumers and women-owned, minority-
                owned, and small businesses.''.
                                                 Union Calendar No. 250

114th CONGRESS

  1st Session

                               H. R. 1737

                          [Report No. 114-329]

_______________________________________________________________________

                                 A BILL

    To nullify certain guidance of the Bureau of Consumer Financial 
   Protection and to provide requirements for guidance issued by the 
             Bureau with respect to indirect auto lending.

_______________________________________________________________________

                            November 9, 2015

Committed to the Committee of the Whole House on the State of the Union 
                       and ordered to be printed