HR 3389 · 113th Congress 2013–2015, ended

CFPB Slush Fund Elimination Act of 2013

Introduced Oct 30, 2013 Originated House Sponsor Shelley Moore Capito R-WV

Latest action · Jun 11, 2014 Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 27.

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.

IntroducedOct 30, 2013
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

CFPB Slush Fund Elimination Act of 2013 - Amends the Consumer Financial Protection Act of 2010 to repeal the Consumer Financial Civil Penalty Fund, into which are deposited any civil penalties paid in judicial or administrative actions under federal consumer financial laws.

Requires the Board of Governors of the Federal Reserve System to deposit all such civil penalties, and all amounts currently in the Civil Penalty Fund, into the Treasury's general fund.

Cosponsors 13

Members who signed on, in the order they did. Signatures ran from Oct 30, 2013 to Jun 5, 2014; 10 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
R-MI	Bill Huizenga	Original	Oct 30, 2013
R-FL	Bill Posey	Original	Oct 30, 2013
R-MO	Blaine Luetkemeyer	Original	Oct 30, 2013
R-CA	John Campbell	Original	Oct 30, 2013
R-GA	Lynn A. Westmoreland	Original	Oct 30, 2013
R-NC	Robert Pittenger	Original	Oct 30, 2013
R-NJ	Scott Garrett	Original	Oct 30, 2013
R-WI	Sean P. Duffy	Original	Oct 30, 2013
R-AL	Spencer Bachus	Original	Oct 30, 2013
R-AR	Tom Cotton	Original	Oct 30, 2013
R-PA	Keith J. Rothfus		Nov 14, 2013
R-MN	Michele Bachmann		Nov 14, 2013
R-MO	Ann Wagner		Jun 5, 2014

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 Oct 30, 2013Markup Jun 11, 2014
	Consumer Protection and Financial Institutions Subcommittee	Hearings May 21, 2014

Actions 5

Everything that happened, newest first.

Jun 11, 2014Committee Consideration and Mark-up Session Held.
Jun 11, 2014Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 27.
May 21, 2014Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Oct 30, 2013Introduced in House
Oct 30, 2013Referred 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.

Congressional Budget Office cost estimate

Aug 20, 2014H.R. 3389, Ensuring Harmed Consumers Receive Compensation ActAs ordered reported by the House Committee on Financial Services on June 11, 2014

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article I Section 1: All legislative Powers herein granted shall be vested in a Congress of the United States Article I Section 9 Clause vii: No Money shall be drawn from the Treasury but in Consequence of Appropriations made by Law

The sponsor’s statement, as printed in the page H6955.

CRS reports 1

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 1

Products on other subjects that cite it, usually among other measures.

Product	Title	Kind	Published
R43837	An Overview of Selected Legislation in the 113th Congress Related to the Consumer Financial Protection Bureau (CFPB) Archived	Report	Dec 29, 2014

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To repeal the Consumer Financial Civil Penalty Fund and to deposit existing amounts in such Fund into the Treasury, and for other purposes.
Short Titles as Introduced: CFPB Slush Fund Elimination Act of 2013

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

Oct 30, 2013Introduced in House

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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.