Financial Product Safety Commission Act of 2009
Latest action · Mar 25, 2009 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 25, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Financial Product Safety Commission Act of 2009 - Establishes the Financial Product Safety Commission to: (1) promulgate consumer financial product safety rules; (2) establish a best practices guide for all providers of consumer financial products; (3) conduct continuing studies and investigations of consumer financial products industry practices; (4) award grants or enter into contracts for the conduct of such studies and investigations; (5) assist public and private organizations or groups of consumer financial product providers, administratively and technically, in the development of safety standards or guidelines that would assist them in complying with any Commission rule; (6) comment on selected agency rulemakings affecting consumer financial products; and (7) establish a consumer financial product customer hotline.
Cosponsors 21
Members who signed on, in the order they did. Signatures ran from Mar 25, 2009 to Jun 26, 2009; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NC | Brad Miller | Original | Mar 25, 2009 |
| D-CA | George Miller | Mar 31, 2009 | |
| D-IL | Janice D. Schakowsky | Mar 31, 2009 | |
| D-MA | John F. Tierney | Mar 31, 2009 | |
| D-MN | Keith Ellison | Mar 31, 2009 | |
| D-VT | Peter Welch | Mar 31, 2009 | |
| D-OR | Earl Blumenauer | Apr 21, 2009 | |
| D-CA | Jackie Speier | Apr 21, 2009 | |
| D-MI | John Conyers, Jr. | Apr 21, 2009 | |
| D-OR | David Wu | May 4, 2009 | |
| D-PA | Robert A. Brady | May 4, 2009 | |
| D-MA | Michael E. Capuano | May 14, 2009 | |
| D-NY | Louise McIntosh Slaughter | Jun 3, 2009 | |
| D-IL | Luis V. Gutierrez | Jun 3, 2009 | |
| D-AZ | Ed Pastor | Jun 17, 2009 | |
| D-MI | Gary C. Peters | Jun 17, 2009 | |
| D-MA | Stephen F. Lynch | Jun 17, 2009 | |
| D-NY | Maurice D. Hinchey | Jun 18, 2009 | |
| D-CA | Michael M. Honda | Jun 23, 2009 | |
| D-OR | Peter A. DeFazio | Jun 24, 2009 | |
| D-TN | Steve Cohen | Jun 26, 2009 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 25, 2009 |
Actions 2
Everything that happened, newest first.
- Mar 25, 2009Introduced in House
- Mar 25, 2009Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 3
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 111-50 | IMPROVING CONSUMER FINANCIAL LITERACY UNDER THE NEW REGULATORY SYSTEM188 pages | Financial Services Committee | Jun 25, 2009 |
| Serial No. 111-49 | REGULATORY RESTRUCTURING: ENHANCING CONSUMER FINANCIAL PRODUCTS REGULATION286 pages | Financial Services Committee | Jun 24, 2009 |
| S. Hrg. 111-48 | MODERNIZING CONSUMER PROTECTION IN THE FINANCIAL REGULATORY SYSTEM: STRENGTHENING CREDIT CARD PROTECTIONS237 pages | Banking, Housing, and Urban Affairs Committee | Feb 12, 2009 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 566 | Financial Product Safety Commission Act of 2009 | Related bill | Mar 10, 2009 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To create a Financial Product Safety Commission, to provide consumers with stronger protections and better information in connection with consumer financial products, and to give providers of consumer financial products more regulatory certainty.
- Short Titles as Introduced
- Financial Product Safety Commission Act of 2009
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 25, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
