WASHINGTON – The Financial Services Committee will meet next week to vote on consumer protection bills and legislation that relieves some of the regulatory burden on job creators.   

“True consumer protection requires access to competitive, transparent and innovative markets vigorously policed for force, fraud and deception.  True consumer protection empowers consumers and respects their economic freedoms to make important informed choices free from government interference and fiat,” said Chairman Jeb Hensarling (R-TX).

The Committee will meet on Wednesday, Sept. 30 at 10 a.m. to consider the following bills:

H.R. 414, the Burdensome Data Collection Relief Act

Sponsor: Rep. Bill Huizenga (R-MI)

H.R. 414 repeals a burdensome, unneeded and expensive requirement of the Dodd-Frank Act for publicly traded companies so they can instead focus resources on job creation and economic growth.

H.R. 957, the Bureau of Consumer Financial Protection-Inspector General Reform Act of 2015

Sponsor: Rep. Steve Stivers (R-OH)

H.R. 957 ensures greater accountability at the Consumer Financial Protection Bureau (CFPB) by creating an independent Inspector General for the CFPB who is, nominated by the President and confirmed by the Senate.

H.R. 1090, the Retail Investor Protection Act

Sponsor: Rep. Ann Wagner (R-MO)

H.R. 1090 begins to correct the Department of Labor’s proposed fiduciary rule that will raise costs, restrict choice and reduce access to investment advice for lower and middle income families seeking financial independence.

H.R. 1266, the Financial Product Safety Commission Act of 2015

Sponsor: Rep. Randy Neugebauer (R-TX)

H.R. 1266 removes the CFPB from within the Federal Reserve System and re-establishes it as a stand-alone agency that is governed by a five-member, bipartisan commission.  All authorities and powers of the CFPB remain unchanged.

H.R. 2769, Risk-Based Capital Study Act of 2015

Sponsor: Rep. Stephen Fincher (R-TN)

H.R. 2769 requires the National Credit Union Administration to conduct a study of the appropriate capital requirements for Federal and State credit unions before new rules take effect.

###