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S. 1579: Bureau of Consumer Financial Protection Advisory Board Enhancement Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jul 19, 2017.


Bureau of Consumer Financial Protection Advisory Board Enhancement Act

This bill amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to establish: (1) a Small Business Advisory Board to advise and consult with the CFPB in the exercise of its functions under the federal consumer financial laws regarding financial products or services provided for use by consumers primarily for personal, family, or household purposes and to provide information on emerging practices of small businesses that provide such products or services; and (2) a Credit Union Advisory Council and a Community Bank Advisory Council to advise and consult with the CFPB on consumer financial products or services that impact credit unions and community banks, respectively.