Reforming CFPB Indirect Auto Financing Guidance Act
113-HR-5403113th CongressIntroduced Sep 8, 2014Finance and Financial Sector
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the House Committee on Financial Services.
Sponsor
Rep. Stutzman, Marlin A. [R-IN-3](R-IN-3)149 cosponsors
Summary
Reforming CFPB Indirect Auto Financing Guidance Act - Declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.
Amends the Consumer Financial Protection Act of 2010 to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:
- provide for a public notice and comment period before issuing the guidance in final form;
- make publicly available all information relied on by the CFPB;
- redact any information exempt from disclosure under the Freedom of Information Act;
- consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission (FTC), and the Department of Justice (DOJ); and
- study the costs and impacts of the guidance to consumers and women-owned, minority-owned, and small businesses.
Subjects
Administrative law and regulatory proceduresBanking and financial institutions regulationConsumer Financial Protection BureauConsumer affairsConsumer creditFinancial services and investmentsGovernment information and archivesGovernment studies and investigationsMinority and disadvantaged businessesMotor vehiclesSmall businessWomen in business
Actions (3)
Referred to the House Committee on Financial Services.
Sep 8, 2014House floor actions
Introduced in House
Sep 8, 2014Library of Congress
Introduced in House
Sep 8, 2014Library of Congress