S. 3990 · 116th Congress
Financial Product Safety Commission Act of 2020
- Stage
- In committee
- Sponsor
- Deb Fischer
- Introduced
- 2020-06-17
- Latest action
- 2020-06-17 · Introduced in Senate
Summary
Financial Product Safety Commission Act of 2020
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.