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HR 4662 113th Congress House

Bureau Advisory Opinion Act

Official title: To amend the Consumer Financial Protection Act of 2010 to establish an advisory opinion process for the Bureau of Consumer Financial Protection, and for other purposes.

Introduced: May 19, 2014 See on congress.gov
Finance and Financial Sector Administrative remediesBanking and financial institutions regulationConsumer Financial Protection BureauConsumer affairs
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 11, 2014
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
Jun 11, 2014
Committee Consideration and Mark-up Session Held.
May 21, 2014
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
May 15, 2014
Referred to the House Committee on Financial Services.
May 15, 2014
Introduced in House
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 Latest action June 11, 2014

Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.

 Plain-English summary Congressional Research Service

Bureau Advisory Opinion Act - Amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to: (1) establish a procedure to respond to specific inquiries by a covered person concerning conformance of prospective conduct with federal consumer financial law, and (2) issue an opinion in response to the inquiry within 90 days (with a single allowable extension of another 45 days).

(A "covered person" under the Act is: (1) any person that engages in offering or providing a consumer financial product or service, and (2) any affiliate of that person if the affiliate acts as a service provider to the person.)

Creates a rebuttable presumption in any action brought under federal consumer financial law that any conduct for which the Director has issued an opinion that it is in conformity with the opinion is indeed in compliance with federal consumer financial law.

Exempts such inquiries and advisory opinions from disclosure under the Freedom of Information Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Wagner, Ann
Missouri · May 19, 2014
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4662: Bureau Advisory Opinion Act. 113th Congress. Open America. https://openamerica.io/bill/113-HR-4662/
MLA
"H.R. 4662: Bureau Advisory Opinion Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-4662/.
Bluebook (legal)
H.R. 4662, 113th Cong. (2026), https://openamerica.io/bill/113-HR-4662/.
Markdown link
[H.R. 4662: Bureau Advisory Opinion Act](https://openamerica.io/bill/113-HR-4662/)
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