/  H.R. 1500—Consumers First Act

H.R. 1500 - Consumers First Act

Bill Text

  • Rules Committee Print 116-15 PDF XML

    Showing the text of the bill as reported by the Committee on Financial Services, with modifications.

  • Text of H.R. 1500 PDF XML

    (as reported)

  • H. Rept. 116-57, Part 1 PDF

    Report from the Committee on Financial Services

  • Comparative Print PDF

    Comparing the base document H.R. 1500, as reported, with Rules Committee Print 116-15, as modified.

  • Comparative Print PDF

    Pursuant to clause 12(a) of rule XXI of the Rules of the House of Representatives, this document was generated to show how Rules Committee Print 116-15 proposes to change existing law.

Rule Information

COMMITTEE ACTION:
REPORTED BY A RECORD VOTE OF 6-4 on Monday, May 20, 2019.

FLOOR ACTION ON H. RES. 389: 
Agreed to by record vote of 230-190, after agreeing to the previous question by record vote of 227-191, on Tuesday, May 21, 2019.

MANAGERS: Perlmutter/Woodall

1. Structured rule for H.R. 1500.

2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

3. Waives all points of order against consideration of the bill.

4. Provides that an amendment in the nature of a substitute consisting of the text of Rules Committee Print 116-15 shall be considered as adopted and the bill, as amended, shall be considered as read.

5. Waives all points of order against provisions in the bill, as amended.

6. Makes in order only those amendments printed in part A of the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

7. Waives all points of order against the amendments printed in part A of the report.

8. Provides one motion to recommit with or without instructions.

9. Closed rule for H.R. 1994.

10. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Ways and Means.

11. Waives all points of order against consideration of the bill.

12. Provides that the amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill, modified by the amendment printed in part B of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.

13. Waives all points of order against provisions in the bill, as amended.

14. Provides one motion to recommit with or without instructions.

15. Section 3 provides that on any legislative day during the period from May 24, 2019, through May 31, 2019: the Journal of the proceedings of the previous day shall be considered as approved; and the Chair may at any time declare the House adjourned to meet at a date and time to be announced by the Chair in declaring the adjournment.

16. Provides that the Speaker may appoint Members to perform the duties of the Chair for the duration of the period addressed by section 3.

17. Provides that each day during the period addressed by section 3 of this resolution shall not constitute a legislative day for the purposes of clause 7 of rule XV (Consensus Calendar).

18. Provides that it shall be in order at any time on the legislative day of May 23, 2019, for the Speaker to entertain motions that the House suspend the rules relating to a measure making supplemental appropriations for the fiscal year ending September 30, 2019.

19. Waives the requirement of clause 6(a) of rule XIII for a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House with respect to any resolution reported through the legislative day of May 23, 2019, relating to a measure making supplemental appropriations for the fiscal year ending September 30, 2019.

20. Provides that the Committee on Appropriations may, at any time before 5:00 p.m. on Sunday, June 2, 2019, file privileged reports to accompany measures making appropriations for the fiscal year ending September 30, 2020.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
23Version 1Adams (NC)DemocratReestablishes an interagency memorandum of understanding between the CFPB and the Department of Education concerning the sharing of student borrower complaints to allow for cooperative supervision and oversight of student loan servicers.Made in Order
9Version 1Barr (KY)RepublicanExplicitly grants the Consumer Financial Protection Bureau (CFPB) with supervisory authority over lenders’ compliance with the Military Lending Act (MLA). The CFPB currently has MLA enforcement authority but lacks the supervisory authority. Submitted
12Version 1Blunt Rochester (DE)DemocratAppoints within the Office of Students and Young Consumers a Deputy Assistant Director of Diversity, Inclusion, and Affinity Relations, who shall focus on monitoring aid and providing assistance to minority students and parents of minority student. Submitted
13Version 1Bonamici (OR), Rouda (CA)DemocratRequires the Assistant Director and Student Loan Ombudsman to issue an annual report to Congress on risks to young consumers and student borrowers. Made in Order
27Version 1Brown (MD)DemocratLate Compares the handling of Equal Credit Opportunity Act of 1974 complaints and total consumer relief by the Office of Fair Lending and Equal Opportunity under Division of Supervision, Enforcement, and Fair Lending and under Director’s direct supervision. Submitted
17Version 1Burchett (TN)RepublicanWithdrawn Changes the funding stream of the CFPB from the Federal Reserve to the Congressional appropriations process.Withdrawn
11Version 1Burgess (TX)RepublicanStrikes the section requiring all consumer complaints to be made available to the public on a CFPB website. Made in Order
14Version 1Burgess (TX), Burchett (TN)RepublicanPermanently subjects funding for the CFPB to Congressional appropriation and authorizes for FY2020 an amount equal to the aggregate amount of funds transferred by the Board of Governors to the CFPB during FY2019. Made in Order
8Version 1Case (HI)DemocratAdds expertise in consumer privacy to the membership of the Consumer Advisory Board.Made in Order
16Version 1Castor (FL)DemocratRequires the CFPB Director to develop programs that increase the financial literacy of students and young consumers and provide students and young consumers with financial counseling.Submitted
3Version 1Cohen (TN)DemocratDirects the Consumer Financial Protection Bureau (CFPB) to require consumer reporting agencies to disclose free credit scores, if requested. Also directs the CFPB to develop regulations establishing a mandatory consistent format and to determine if agencies should disclose any other consumer information appropriate with respect to consumer financial education.Made in Order
24Version 1Cohen (TN)DemocratRequires the CFPB to submit a report to Congress about the information gathered on women-owned, minority owned, and small businesses.Submitted
5Version 1Davidson (OH)RepublicanProhibits the CFPB from mandating entities to pay penalty amounts to non-profit organizations. Also prohibits the use of funds for direct-to-consumer financial literacy programs. Submitted
7Version 1Davis, Rodney (IL), Budd (NC), Mitchell (MI)RepublicanRemoves findings derived from a Politico article that quoted an anonymous White House advisor. Submitted
22Version 3DeSaulnier (CA)DemocratRevised Requires the Bureau to collect additional data from student loan servicers to provide a comprehensive view of loan portfolio performance, and to include findings from this information in the annual Ombudsman report. Made in Order
15Version 2Duffy (WI)RepublicanWithdrawn Stipulates that a Federal department or agency may not offer or provide any consumer financial product or service without the written approval of the Director of the Consumer Financial Protection Bureau.Withdrawn
19Version 1Escobar (TX), Golden (ME)DemocratDirects CFPB to seek to appoint representatives of military- and veteran-serving financial institutions in Advisory Committees (excludes Consumer Advisory Board). Made in Order
18Version 1Golden (ME), Escobar (TX)DemocratAdds representatives of service members, veterans, and their families to the list of individuals who qualify for appointment to the Consumer Advisory Board.Made in Order
20Version 1Golden (ME)DemocratEnsures that at least one member of the Consumer Advisory Board represents the interests of servicemembers, veterans, and their families. Submitted
21Version 1Golden (ME)DemocratRequires the Director of the Consumer Financial Protection Bureau to seek individuals who represent veteran owned small businesses when appointing members of any advisory committee. Submitted
29Version 2Green, Al (TX)DemocratLate Revised Reinstates the Consumer Financial Protection Bureau's final rule governing forced arbitration, within 60 days of enactment. Made in Order
31Version 1Jackson Lee (TX)DemocratLate Adds a new “Findings” to the bill that identity theft is primarily a financial crime used for acquiring access to things of monetary value and that children are particularly vulnerable to this type of crime and provides for a study on the incidences of identity theft committed against individuals younger than 18 years-old, including the theft of social security numbers of deceased children.Submitted
32Version 1Jackson Lee (TX)DemocratLate Adds to the findings that President Barack Obama signed the Dodd–Frank Wall Street Reform and Consumer Protection Act into law.Submitted
33Version 1Jackson Lee (TX)DemocratLate Provides for a study on the incidence of identity theft that results in erroneous information being added to the credit files of consumers at a consumer reporting agency; what steps have been taken by consumer reporting agencies and financial institutions to provide relief to such consumers, and the ease with which consumers can apply mechanisms to lock and unlock access to consumer report data for credit granting purposes.Submitted
34Version 1Jackson Lee (TX)DemocratLate Adds to the “Findings” that online and in-store consumer activity and transactions, including brand and customer loyalty programs, allow for greater collection of detailed information on individual consumers. The bill directs that a study be done on the extent to which financial institutions rely upon analyses of individual consumer activities, interests, and buying and spending patterns to make decisions regarding extensions of credit, targeted marketing, or withholding or providing add-on financial services to individual consumers. The study shall also address the extent to which such data collection and analysis may constitutes unlawful or discriminatory profiling. Submitted
30Version 1Lawson (FL), Brown (MD)DemocratLate Adds a monthly reporting requirement that CFPB provide Congress with the number of investigations opened and closed relating to potential fair lending violations, how many fair lending enforcement actions taken or referred, analysis of consumer complaints relating to potential fair lending violations, and stats on how many Office of Fair Lending and Equal Opportunity staff are dedicated to supervision and enforcement.Made in Order
2Version 1Loudermilk (GA)RepublicanRequires the creation of a publicly available database containing information on the beneficiaries of settlement agreements, including the amount of money provided to harmed consumers. The database will include a list of any organization that received Civil Penalty Funds, and the amount of funds paid, in connection with a CFPB settlement agreement.Submitted
35Version 1Maloney, Sean (NY)DemocratLate Requires coordination between the CFPB’s Office of Students and Young Consumers and the Department of Veterans Affairs, and expresses the sense of Congress that the discharging of student loan debt for veterans on total and permanent disability should be prioritized. Submitted
26Version 1Neguse (CO)DemocratRequires the Director of the Consumer Financial Protection Bureau to issue an annual report to Congress of consumer complaints from older Americans, including a state-by-state breakdown of complaints by type of consumer financial product or service and any legislative or regulatory recommendations by the Director.Made in Order
28Version 1Pressley (MA)DemocratLate Requires the Director of the Consumer Financial Protection Bureau to issue a quarterly report on debt collection complaints and enforcement actions. Made in Order
1Version 1Steil (WI)RepublicanStrikes the findings in the bill and inserts language requiring the Comptroller General to conduct a study of the effectiveness and efficiency of the Consumer Financial Protection Bureau (CFPB) in meeting its statutorily mandated obligations, the prevalence of discriminatory practices in lending, and the workplace rights of CFPB staff. Made in Order
36Version 1Stevens (MI)DemocratLate Ensures that the Consumer Advisory Board is comprised of individuals who represent community banks, credit unions, small business owners, or economic growth experts. Made in Order
4Version 1Takano (CA)DemocratProhibits a negative option agreement from being entered on the Internet with consumers unless it provides a cancellation mechanism that mirrors the customers method of enrollment, delivers periodic notifications of contractual obligations or changes, and requires an additional statement of consent to bind consumers at the end of free-trial periods.Submitted
6Version 1Takano (CA)DemocratDirects the Federal Insurance Office (FIO) to collect private passenger automobile insurance data from certain automobile insurers, federal and state agencies, or other intermediaries. The FIO must report on any racial disparities in premium costs and claims payment amounts.Submitted
25Version 3Tlaib (MI)DemocratRevised Adds a quarterly reporting requirement that CFPB provide Congress with the number of investigations opened and closed relating to payday/car-title lenders, how many enforcement actions taken, an estimate of how much in fees payday/car-title customers paid, how many times in the previous 12 months a payday customer rolled over their loan, and how many car title loan borrowers lost their car in the previous 12 months.Made in Order
10Version 1Velázquez (NY)DemocratReinstitutes Home Mortgage Disclosure Act of 1975 reporting requirements and prevents further action by the CFPB without congressional approval. Made in Order