Bureau of Consumer Financial Protection Advisory Boards Act
Latest action. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bureau of Consumer Financial Protection Advisory Boards Act
(Sec. 2) Amends the Consumer Financial Protection Act of 2010 to direct the Director of the Consumer Financial Protection Bureau (CFPB) to establish a Small Business Advisory Board to: (1) advise and consult with the CFPB in the exercise of its functions under the federal consumer financial laws regarding eligible financial products or services, and (2) provide information on evolving small business practices.
Requires Board members to be representatives of small business concerns that:
provide financial products or services for use by consumers primarily for personal, family, or household purposes,
are service providers to covered persons; and
use consumer financial products or services in financing the business activities of such small businesses.
Requires the Director, in making such Board appointments, to include members representing minority-, women-, and veteran-owned small business concerns and their interests, without regard to party affiliation.
Requires the Director to establish 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.
Directs the Director, in making appointments to the Councils, to include members representing credit unions and community banks predominantly serving traditionally underserved communities and populations and their interests, without regard to party affiliation.
(Sec. 3) Prohibits the Director from requesting funds: (1) during FY 2020 in an amount that would exceed $655 million, and (2) during FY 2025 in an amount that would exceed $720 million.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House amended" stage on April 22, 2015. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on April 23, 2015: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 114th Congress (2015-16), 329 of the 10,233 bills and joint resolutions introduced became law, about 3.2 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Robert Pittenger (R-NC) introduced it on March 2, 2015, and 19 members have since signed on as cosponsors.
They come from both major parties: 4 Democrats, 15 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 2, 2015, 4210 days ago. The most recent recorded action was 4158 days ago, on April 23, 2015.
Measures do not carry over. Anything the 114th Congress has not finished by January 3, 2017 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers