H.R. 6116 · 116th Congress
Consumer Financial Protection Commission Act
- Stage
- In committee
- Sponsor
- Blaine Luetkemeyer
- Introduced
- 2020-03-05
- Latest action
- 2020-03-05 · Introduced in House
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.