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Bill115th CongressFiled Feb 28, 2017Finance and Financial Sector
H.R. 1264

Community Financial Institution Exemption Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house with amendment(s) (Aug 3, 2018)

Community Financial Institution Exemption Act

This bill amends the Consumer Financial Protection Act of 2010 to exempt certain financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). Specifically, the bill exempts from regulation 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.

What just happenedAug 3, 2018

Placed on the Union Calendar, Calendar No. 683.

Who’s behind it

Rep. Williams, Roger [R-TX-25](R-TX)Sponsor
30 cosponsors30 R
Read on Congress.gov
30cosponsors1committees10actions3subjects
  1. Aug 3, 2018CalendarsH12410

    Placed on the Union Calendar, Calendar No. 683.

  2. Aug 3, 2018CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-885.

    Financial Services Committee
  3. Aug 3, 2018Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-885.

    Financial Services Committee
  4. Jan 18, 2018Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 25.

    Financial Services Committee
  5. Jan 18, 2018Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. Jan 17, 2018Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  7. Jan 9, 2018Committee

    Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

    Consumer Protection and Financial Institutions Subcommittee
  8. Feb 28, 2017IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  9. Feb 28, 2017IntroReferralIntro-H

    Introduced in House

  10. Feb 28, 2017IntroReferral1000

    Introduced in House

Reported to House with amendment(s)Aug 3, 201817

Community Financial Institution Exemption Act

This bill amends the Consumer Financial Protection Act of 2010 to exempt certain financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). Specifically, the bill exempts from regulation 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.

Introduced in HouseFeb 28, 2017

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.

Community Financial Institution Exemption Act — Informed