H.R. 3044 – To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repea…

112th CONGRESS

1st Session

H. R. 3044

IN THE HOUSE OF REPRESENTATIVES

September 23, 2011

Mr. Canseco (for himself, Mr. Hensarling, Mr. Neugebauer, Mr. Bachus, and Mrs. Capito) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the Office of Financial Research.

Repeal of the Office of Financial Research

(a)

In general

Subtitle B of title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act is hereby repealed.

(b)

Conforming amendments to the Dodd-Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended—

(1)

in section 102(a), by striking paragraph (5);

(2)

in section 111—

(A)

in subsection (b)(2)—

(i)

by striking subparagraph (A); and

(ii)

by redesignating subparagraphs (B), (C), (D), and (E) as subparagraphs (A), (B), (C), and (D), respectively;

(B)

in subsection (c), by striking subparagraphs (C), (D), and (E) and inserting subparagraphs (B), (C), and (D);

(3)

in section 112—

(A)

in subsection (a)(2)—

(i)

in subparagraph (A), by striking direct the Office of Financial Research to;

(ii)

by striking subparagraph (B); and

(iii)

by redesignating subparagraphs (C), (D), (E), (F), (G), (H), (I), (J), (K), (L), (M), and (N) as subparagraphs (B), (C), (D), (E), (F), (G), (H), (I), (J), (K), (L), and (M), respectively; and

(B)

in subsection (d)—

(i)

in paragraph (1), by striking the Office of Financial Research, member agencies, and and inserting member agencies and;

(ii)

in paragraph (2), by striking the Office of Financial Research, any member agency, and and inserting any member agency and;

(iii)

in paragraph (3)—

(I)

by striking , acting through the Office of Financial Research, each place it appears; and

(II)

in subparagraph (B), by striking the Office of Financial Research or; and

(iv)

in paragraph (5)(A), by striking , the Office of Financial Research,;

(4)

in section 116, by striking , acting through the Office of Financial Research, each place it appears; and

(5)

by striking section 118.

(c)

Conforming amendment to the Paperwork Reduction Act

Section 2(5) of the Paperwork Reduction Act is amended by striking the Office of Financial Research,.

(d)

Technical amendments

The table of contents for the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended—

(1)

by striking the item relating to section 118; and

(2)

by striking the items relating to subtitle B of title I.

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the Office of Financial Research.

Legislative Activity

Bill Text