Bill Sponsor
House Bill 1264
115th Congress(2017-2018)
Community Financial Institution Exemption Act
Introduced
Introduced
Introduced in House on Feb 28, 2017
Overview
Text
Introduced
Feb 28, 2017
Latest Action
Aug 3, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1264
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Community Financial Institution Exemption Act

This bill amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). A "community financial institution" is an insured depository institution or credit union with less than $50 billion in consolidated assets.

Under specified circumstances, and with the written agreement of the Federal Reserve Board and other specified federal banking agencies, the CFPB may revoke such an exemption with respect to a certain rule or regulation and a specific class of institutions.

Text (2)
August 3, 2018
February 28, 2017
Actions (8)
08/03/2018
Placed on the Union Calendar, Calendar No. 683.
08/03/2018
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-885.
01/18/2018
Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 25.
01/18/2018
Committee Consideration and Mark-up Session Held.
01/17/2018
Committee Consideration and Mark-up Session Held.
01/09/2018
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
02/28/2017
Referred to the House Committee on Financial Services.
02/28/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:35:03 PM