[Congressional Record Volume 167, Number 199 (Tuesday, November 16, 2021)]
[Senate]
[Pages S8286-S8287]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 4704. Mr. HAGERTY submitted an amendment intended to be proposed 
to amendment SA 3867 submitted by Mr. Reed and intended to be proposed 
to the bill H.R. 4350, to authorize appropriations for fiscal year 2022 
for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

        At the appropriate place, insert the following:

     SEC. ___. SUBJECTING THE BUREAU OF CONSUMER FINANCIAL 
                   PROTECTION TO THE REGULAR APPROPRIATIONS 
                   PROCESS.

       (a) In General.--Section 1017 of the Consumer Financial 
     Protection Act of 2010 (12 U.S.C. 5497) is amended--
       (1) in subsection (a)--
       (A) in the subsection heading, by striking ``Transfer of 
     Funds From Board Of Governors.--'' and inserting ``Budget and 
     Financial Management.--'';
       (B) by striking paragraphs (1) through (3);
       (C) by redesignating paragraphs (4) and (5) as paragraphs 
     (1) and (2), respectively; and
       (D) in paragraph (1), as so redesignated--
       (i) in the paragraph heading, by striking ``Budget and 
     financial management.--'' and inserting ``In general.--'';
       (ii) by striking subparagraph (E); and
       (iii) by redesignating subparagraph (F) as subparagraph 
     (E);
       (2) by striking subsections (b) and (c);
       (3) by redesignating subsections (d) and (e) as subsections 
     (b) and (c), respectively;
       (4) in subsection (b), as so redesignated--
       (A) in paragraph (2)--
       (i) in the first sentence, by inserting ``direct'' before 
     ``victims''; and
       (ii) by striking the second sentence; and
       (B) by adding at the end the following:
       ``(3) Treatment of excess amounts.--If, after the Bureau 
     obtains a civil penalty in a judicial or administrative 
     action under Federal consumer financial laws, deposits that 
     civil penalty into the Civil Penalty Fund under paragraph 
     (1), and, under paragraph (2), makes payments to all of the 
     direct victims of activities for which that civil penalty was 
     imposed, amounts remain in the Civil Penalty Fund with 
     respect to that civil penalty, the Bureau shall transfer 
     those excess amounts to the general fund of the Treasury.''; 
     and
       (5) in subsection (c), as so redesignated--
       (A) by striking paragraphs (1) through (3) and inserting 
     the following:
       ``(1) Authorization of appropriations.--There is authorized 
     to be appropriated such funds as may be necessary to carry 
     out this title for fiscal year 2023.''; and
       (B) by redesignating paragraph (4) as paragraph (2).
       (b) Effective Date.--The amendments made by this section 
     shall take effect on October 1, 2022.

[[Page S8287]]

  

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