HR 4773 · 117th Congress 2021–2023, ended

Consumer Financial Protection Commission Act

Introduced Jul 28, 2021 Originated House Sponsor Blaine Luetkemeyer R-MO

Fact sheet Spreadsheet

Latest action · Jul 28, 2021 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.

  1. IntroducedJul 28, 2021
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Consumer Financial Protection Commission Act

This bill removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.

Cosponsors 27

Members who signed on, in the order they did. Signatures ran from Jul 28, 2021 to Jul 27, 2022; 23 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
R-WVAlexander X. MooneyOriginalJul 28, 2021
R-KYAndy BarrOriginalJul 28, 2021
R-MOAnn WagnerOriginalJul 28, 2021
R-OHAnthony GonzalezOriginalJul 28, 2021
R-GABarry LoudermilkOriginalJul 28, 2021
R-MIBill HuizengaOriginalJul 28, 2021
R-FLBill PoseyOriginalJul 28, 2021
R-WIBryan SteilOriginalJul 28, 2021
R-TNDavid KustoffOriginalJul 28, 2021
R-OKFrank D. LucasOriginalJul 28, 2021
R-ARJ. French HillOriginalJul 28, 2021
R-TNJohn W. RoseOriginalJul 28, 2021
R-TXLance GoodenOriginalJul 28, 2021
R-NYLee M. ZeldinOriginalJul 28, 2021
R-NCPatrick T. McHenryOriginalJul 28, 2021
R-TXPete SessionsOriginalJul 28, 2021
R-TXRoger WilliamsOriginalJul 28, 2021
R-NCTed BuddOriginalJul 28, 2021
R-MNTom EmmerOriginalJul 28, 2021
R-INTrey HollingsworthOriginalJul 28, 2021
R-TXVan TaylorOriginalJul 28, 2021
R-OHWarren DavidsonOriginalJul 28, 2021
R-SCWilliam R. Timmons IVOriginalJul 28, 2021
R-WIGlenn GrothmanJul 22, 2022
R-WAJaime Herrera BeutlerJul 22, 2022
R-SCRalph NormanJul 27, 2022
R-WIScott FitzgeraldJul 27, 2022

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseFinancial Services Committee
Referred Jul 28, 2021

Actions 2

Everything that happened, newest first.

  1. Jul 28, 2021Introduced in House
  2. Jul 28, 2021Referred 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.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article I, Section 8, Clause 3 of the U.S. Constitution

The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 132, July 28, 2021, page H4251.

Related bills 2

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 1410Consumer Financial Protection Commission ActReintroduced BillMar 7, 2023
HR 6116Consumer Financial Protection Commission ActReintroduction ofMar 5, 2020

Titles 2

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

Official Title as Introduced
To amend the Consumer Financial Protection Act of 2010 to make the Bureau of Consumer Financial Protection an independent Consumer Financial Protection Commission, and for other purposes.
Short Title(s) as Introduced
Consumer Financial Protection Commission Act

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. Jul 28, 2021Introduced 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.