Referred to the House Committee on Financial Services.
This bill amends the Consumer Financial Protection Act to tighten and clarify how the Bureau of Consumer Financial Protection (CFPB) enforces unfair, deceptive, or abusive acts or practices (UDAAP). It requires the CFPB to define “abusive,” perform rulemaking with cost-benefit analysis, adopt procedures for civil penalties and mitigating factors, provide notice-and-cure and good-faith defenses for monetary penalties, restrict enforcement venue, prohibit treating UDAAP authority as covering discriminatory practices, and bar civil money penalties for conduct predating the most recent consumer compliance rating (while preserving other remedies).
Progressives emphasize consumer protection rollback; conservatives emphasize limiting CFPB power.
Content aligns with common congressional efforts to limit regulatory enforcement; industry support could aid passage, but partisan split on regulation raises opposition.
This bill amends the Consumer Financial Protection Act to tighten and clarify how the Bureau of Consumer Financial Protection (CFPB) enforces unfair, deceptive, or abusive acts or practices (UDAAP).
It requires the CFPB to define “abusive,” perform rulemaking with cost-benefit analysis, adopt procedures for civil penalties and mitigating factors, provide notice-and-cure and good-faith defenses for monetary penalties, restrict enforcement venue, prohibit treating UDAAP authority as covering discriminatory practices, and bar civil money penalties for conduct predating the most recent consumer compliance rating (while preserving other remedies).
Narrow but impactful regulatory rollback favored by some stakeholders; high ideological salience and Senate hurdles reduce overall chances.
How solid the drafting looks.
Progressives emphasize consumer protection rollback; conservatives emphasize limiting CFPB power.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize consumer protection rollback; conservatives emphasize limiting CFPB power.
Likely critical: views the bill as substantially narrowing CFPB enforcement and creating procedural hurdles that could weaken consumer protections.
Concern centers on forbidding discrimination interpretations, higher standards for 'abusive,' and limits on civil penalties; some procedural clarity and notice provisions are acknowledged as positive but possibly insufficient.
Mixed view: appreciates improved specificity, predictable procedures, and notice-and-cure, while worrying the bill could unduly weaken enforcement or create loopholes.
Will seek balances that preserve remedies for clear consumer harm and discrimination while improving regulatory predictability.
Favorable: views the bill as reining in CFPB overreach, adding cost-benefit discipline, clearer legal standards, and procedural fairness for covered persons.
Sees venue restrictions and look-back limits as pro-business governance improvements.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow but impactful regulatory rollback favored by some stakeholders; high ideological salience and Senate hurdles reduce overall chances.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize consumer protection rollback; conservatives emphasize limiting CFPB power.
Narrow but impactful regulatory rollback favored by some stakeholders; high ideological salience and Senate hurdles reduce overall chances.
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