S.Amdt. 4704

SA 4704. Mr. HAGERTY submitted an amendment intended to be proposed
to amendment SA 3867 submitted by Mr. Reed and intended to be proposed
to the bill H.R. 4350, to authorize appropriations for fiscal year 2022
for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. SUBJECTING THE BUREAU OF CONSUMER FINANCIAL
PROTECTION TO THE REGULAR APPROPRIATIONS
PROCESS.

(a) In General.--Section 1017 of the Consumer Financial
Protection Act of 2010 (12 U.S.C. 5497) is amended--
(1) in subsection (a)--
(A) in the subsection heading, by striking ``Transfer of
Funds From Board Of Governors.--'' and inserting ``Budget and
Financial Management.--'';
(B) by striking paragraphs (1) through (3);
(C) by redesignating paragraphs (4) and (5) as paragraphs
(1) and (2), respectively; and
(D) in paragraph (1), as so redesignated--
(i) in the paragraph heading, by striking ``Budget and
financial management.--'' and inserting ``In general.--'';
(ii) by striking subparagraph (E); and
(iii) by redesignating subparagraph (F) as subparagraph
(E);
(2) by striking subsections (b) and (c);
(3) by redesignating subsections (d) and (e) as subsections
(b) and (c), respectively;
(4) in subsection (b), as so redesignated--
(A) in paragraph (2)--
(i) in the first sentence, by inserting ``direct'' before
``victims''; and
(ii) by striking the second sentence; and
(B) by adding at the end the following:
``(3) Treatment of excess amounts.--If, after the Bureau
obtains a civil penalty in a judicial or administrative
action under Federal consumer financial laws, deposits that
civil penalty into the Civil Penalty Fund under paragraph
(1), and, under paragraph (2), makes payments to all of the
direct victims of activities for which that civil penalty was
imposed, amounts remain in the Civil Penalty Fund with
respect to that civil penalty, the Bureau shall transfer
those excess amounts to the general fund of the Treasury.'';
and
(5) in subsection (c), as so redesignated--
(A) by striking paragraphs (1) through (3) and inserting
the following:
``(1) Authorization of appropriations.--There is authorized
to be appropriated such funds as may be necessary to carry
out this title for fiscal year 2023.''; and
(B) by redesignating paragraph (4) as paragraph (2).
(b) Effective Date.--The amendments made by this section
shall take effect on October 1, 2022.

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