HR 1266 114th Congress House Finance and Financial Sector Appropriations Banking and financial institutions regulation Consumer Financial Protection Bureau Consumer affairs Consumer credit Executive agency funding and structure Federal Reserve System Federal officials Financial services and investments

Financial Product Safety Commission Act of 2015

Introduced: March 4, 2015 See on congress.gov

Everywhere this bill has been 7 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 12, 2016

Placed on the Union Calendar, Calendar No. 682.

Dec 12, 2016

Reported (Amended) by the Committee on Financial Services. H. Rept. 114-872.

Sep 30, 2015

Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 24.

Sep 30, 2015

Committee Consideration and Mark-up Session Held.

Jun 11, 2015

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

Mar 4, 2015

Referred to the House Committee on Financial Services.

Mar 4, 2015

Introduced in House

Plain-English summary Congressional Research Service

Financial Product Safety Commission Act of 2015

This bill amends the Consumer Financial Protection Act of 2010 to remove the Consumer Financial Protection Bureau from the Federal Reserve System and instead establish an independent Financial Product Safety Commission (FPSC) to regulate the offering and provision of consumer financial products or services.

The FPSC shall be composed of five members serving staggered five-year terms who are appointed by the President with the advice and consent of the Senate. Not more than three members shall be of any one political party.

The President must appoint a chair of the FPSC from among its members.

The bill prohibits the chair from submitting requests for estimates related to appropriations without prior commission approval.

What's happening now December 12, 2016

Placed on the Union Calendar, Calendar No. 682.

Committees of jurisdiction 2