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H.R. 3072 (115th): Bureau of Consumer Financial Protection Examination and Reporting Threshold Act of 2017


The text of the bill below is as of Nov 21, 2017 (Reported by House Committee). The bill was not enacted into law.


IB

Union Calendar No. 311

115th CONGRESS

1st Session

H. R. 3072

[Report No. 115–420]

IN THE HOUSE OF REPRESENTATIVES

June 27, 2017

(for himself and Mr. Stivers) introduced the following bill; which was referred to the Committee on Financial Services

November 21, 2017

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed


A BILL

To increase from $10,000,000,000 to $50,000,000,000 the threshold figure at which regulated depository institutions are subject to direct examination and reporting requirements of the Bureau of Consumer Financial Protection, and for other purposes.


1.

Short title

This Act may be cited as the Bureau of Consumer Financial Protection Examination and Reporting Threshold Act of 2017.

2.

Increase in the examination threshold

Section 1025(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5515(a)) is amended by striking $10,000,000,000 each place that term appears and inserting $50,000,000,000.

3.

Increase in the reporting threshold

Section 1026(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5516(a)) is amended by striking $10,000,000,000 each place that term appears and inserting $50,000,000,000.

4.

Effective date

This Act and the amendments made by this Act shall take effect on the date that is 45 days after the date of enactment of this Act.

November 21, 2017

Committed to the Committee of the Whole House on the State of the Union and ordered to be printed