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S. 3368: CFPB Pay Fairness Act of 2020


The text of the bill below is as of Mar 2, 2020 (Introduced).


II

116th CONGRESS

2d Session

S. 3368

IN THE SENATE OF THE UNITED STATES

March 2, 2020

(for himself, Mr. Tillis, Mr. Sasse, Mr. Perdue, and Mr. Barrasso) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Consumer Financial Protection Act of 2010 to set the rate of pay for employees of the Bureau of Consumer Financial Protection in accordance with the General Schedule.

1.

Short title

This Act may be cited as the CFPB Pay Fairness Act of 2020.

2.

Rate of pay for employees of the Consumer Financial Protection Bureau

(a)

In general

Section 1013(a)(2) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5493(a)(2)) is amended to read as follows:

(2)

Compensation

The rates of basic pay for all employees of the Bureau shall be set and adjusted by the Director in accordance with the General Schedule set forth in section 5332 of title 5, United States Code.

.

(b)

Effective date

The amendment made by subsection (a) shall apply to service by an employee of the Bureau of Consumer Financial Protection following the 90-day period beginning on the date of enactment of this Act.