Tag Archives: CFPB Reform

CFPB has proposed a set of consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policymakers as they develop new foreclosure relief solutions.

Now that his bill proposing a measure of CFPB reform has passed the House Financial Services Committee, Rep. Andy Barr (R-Kentucky) wants to take it further.

H.R. 1266, known as the Financial Product Safety Commission Act of 2015 and sponsored by Randy Neugebauer (R-Texas), would remove the CFPB from the Federal Reserve System and re-establish it as a stand-alone agency governed by a five-member, bipartisan commission. This bill passed the Committee by the vote of 35-24.

The Republicans' effort to reform the Consumer Financial Protection Bureau continued on Friday with the introduction of a comprehensive reform package by U.S. Representative Sean Duffy (R-Wisconsin).

U.S. Representative Randy Neugebauer (R-Texas) introduced a bill this week intended to replace the director of the Consumer Financial Protection Bureau (CFPB) with a five-member commission. He announced his plan to support legislation in his testimony at House Financial Services Committee (HFSC) hearing held on Tuesday, March 3.

The U.S. Midterm Elections have been over for less than a week, and already Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to make – the Consumer Financial Protection Bureau (CFPB).