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HR 6584 118th Congress House Finance and Financial Sector

Encouraging Innovation and Protecting Consumers Act

Introduced: December 4, 2023 Introduced by: Timmons, William R. Republican · South Carolina See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 4, 2023
Referred to the House Committee on Financial Services.
Dec 4, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

Encouraging Innovation and Protecting Consumers Act

This bill (1) ends the Office of Competition and Innovation within the Consumer Financial Protection Bureau (CFPB), and (2) restores the Office of Innovation at the CFPB. The Office of Competition and Innovation replaced the Office of Innovation in 2022. The original Office of Innovation was established in 2018.

The restored Office of Innovation must reestablish the compliance assistance sandbox policy (providing a safe harbor from certain liability laws while an approved financial product or service is in a testing phase) and the no action letter policy (ensuring no supervisory or enforcement action against an approved financial product or service in certain circumstances).

What's happening now December 4, 2023

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 6584: Encouraging Innovation and Protecting Consumers Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-6584/
MLA
"H.R. 6584: Encouraging Innovation and Protecting Consumers Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-6584/.
Bluebook (legal)
H.R. 6584, 118th Cong. (2026), https://openamerica.io/bill/118-HR-6584/.
Markdown link
[H.R. 6584: Encouraging Innovation and Protecting Consumers Act](https://openamerica.io/bill/118-HR-6584/)
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