Chairman Jeb Hensarling

Legislation

H.R. 1121, the Responsible Consumer Financial Protection Regulations Act
Posted by on April 26, 2011
The Responsible Consumer Financial Protection Regulations Act establishes a bipartisan commission of five members at the Consumer Financial Protection Bureau (CFPB). H.R. 1121, introduced by Chairman Spencer Bachus facilitates robust consumer financial protection by empanelling a  five-member Commission to carry out all of the duties that would otherwise fall to the Director of the CFPB. This proposed structure of the CFPB is the same structure that has worked well for nearly every other regulatory body in this country, including the FTC, FDIC and SEC.

H.R. 1121 is identical to the bipartisan approach the House took to consumer protection during debate on financial regulatory reform in the last Congress.  However, that approach, which  received strong bipartisan support, was later dropped by the Democratic Conferees to the Dodd-Frank Act.
 
Click here to view the legislation.
Comments
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • ken dawson commented on 6/2/2011
    I supportthis bil and all other bills protecting us the consumer and citizens of the USA. Please, support these kinds of bills. Thanks, Ken Dawson
Post a Comment
Fill out the fields below to submit a comment