Financial Consumers Association Act of 2012
Latest action. Referred to the House Committee on Financial Services.
Financial Consumers Association Act of 2012 - Authorizes the establishment of, and sets forth operational requirements for, a nonprofit corporation to be known as the Financial Consumers Association whose mission shall be to advance the rights and remedies available to consumers with respect to financial services, by developing initiatives to reduce the use of dangerous features in financial products and services, and to improve the flow of accurate information to consumers.
Includes among the Association's duties to: (1) represent and promote the interests of financial services consumers and negotiate on their behalf, (2) take affirmative measures to encourage membership by low- and moderate-income and minority consumers and disseminate information and advice, (3) monitor the availability and quality of financial services to low- and moderate-income constituencies and the elderly, and (4) develop data to assist financial services consumers in making informed decisions in the marketplace.
Gives the Association the right to include inserts in financial services mailings, in paper or by electronic means, that inform customers about the Association and its representation of financial services consumers and solicit information and contributions or membership fees.
Requires annual reports to the President and Congress on the Association's activities of the preceding year.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on December 13, 2012. 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 December 13, 2012: Referred to the House Committee on Financial Services.
- 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 112th Congress (2011-12), 283 of the 10,618 bills and joint resolutions introduced became law, about 2.7 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?
DENNIS KUCINICH (D-OH) introduced it on December 13, 2012. No cosponsors are recorded.
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 December 13, 2012, 5066 days ago. The most recent recorded action was 5066 days ago, on December 13, 2012.
Measures do not carry over. Anything the 112th Congress has not finished by January 3, 2013 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