II
116th CONGRESS
1st Session
S. 453
IN THE SENATE OF THE UNITED STATES
February 12, 2019
Mr. Perdue (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mr. Cruz, Ms. Ernst, Mr. Grassley, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Inhofe, Mr. Isakson, Mr. Kennedy, Mr. Lankford, Mr. Moran, Mr. Rounds, Mr. Rubio, Mr. Sasse, and Mr. Sullivan) 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 subject the Bureau of Consumer Financial Protection to the regular appropriations process, and for other purposes.
Short title
This Act may be cited as the Consumer Financial Protection Bureau Accountability Act of 2019
.
Subjecting the Bureau of Consumer Financial Protection to the regular appropriations process
In general
Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended—
in subsection (a)—
in the subsection heading, by striking “Transfer of Funds From Board Of Governors.—” and inserting Budget and Financial Management.—
;
by striking paragraphs (1) through (3);
by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and
in paragraph (1), as so redesignated—
in the paragraph heading, by striking Budget and financial management.—
and inserting In general.—
;
by striking subparagraph (E); and
by redesignating subparagraph (F) as subparagraph (E);
by striking subsections (b) through (d);
by redesignating subsection (e) as subsection (b); and
in subsection (b), as so redesignated—
by striking paragraphs (1) through (3) and inserting the following:
Authorization of appropriations
There is authorized to be appropriated such funds as may be necessary to carry out this title for fiscal year 2021.
; and
by redesignating paragraph (4) as paragraph (2).
Effective date
The amendments made by this Act shall take effect on October 1, 2020.
