H.R. 1266
IntroducedFinancial Product Safety Commission Act of 2015
Latest Action
Placed on the Union Calendar, Calendar No. 682.
12/12/2016 • House
Summary
Financial Product Safety Commission Act of 2015
This bill amends the Consumer Financial Protection Act of 2010 to remove the Consumer Financial Protection Bureau from the Federal Reserve System and instead establish an independent Financial Product Safety Commission (FPSC) to regulate the offering and provision of consumer financial products or services.
The FPSC shall be composed of five members serving staggered five-year terms who are appointed by the President with the advice and consent of the Senate. Not more than three members shall be of any one political party.
The President must appoint a chair of the FPSC from among its members.
The bill prohibits the chair from submitting requests for estimates related to appropriations without prior commission approval.
Reported to House with amendment(s) • 12/12/2016
Topics & Subjects
CBO Cost Estimates (1)
Congressional Votes (0)
No recorded votes yet
Roll call votes will appear here as the bill moves through Congress
Related Federal Spending
Sponsor & Cosponsors (53)
Party Breakdown
Sponsor
Cosponsors (52)
Bill Journey
Originated in the House
Introduced
March 4, 2015
Committee Review
June 11, 2015
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law