H.R. 1737House114th Congress (2015-2017)Passed House

Reforming CFPB Indirect Auto Financing Guidance Act

Legislative Activity

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24 earlier actions

SenateIntro Referral Latest Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

November 19, 2015

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HouseIntro Referral

Introduced in House

April 13, 2015

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

April 13, 2015

HouseCommittee

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

June 11, 2015

HouseCommittee

Committee Consideration and Mark-up Session Held.

Financial Services Committee

July 29, 2015

HouseCommittee

Ordered to be Reported by the Yeas and Nays: 47 - 10.

Financial Services Committee

July 29, 2015

HouseCommittee

Reported by the Committee on Financial Services. H. Rept. 114-329.

Financial Services Committee

November 9, 2015

HouseCalendars

Placed on the Union Calendar, Calendar No. 250.

November 9, 2015

HouseFloor

Rules Committee Resolution H. Res. 526 Reported to House. Rule provides for consideration of H.R. 1737 and H.R. 511. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. For the purposes of requesting a conference with the Senate, the resolution provides that the House has taken S. 1177 from the Speaker's table, adopts an amendment in the nature of a substitute consisting of the text of H.R. 5, as passed by the House and adopts S. 1177, as amendend. The resolution makes in order only those amendments to H.R. 1737 printed inthe report. H.R. 511 shall be considered under a closed rule.

November 16, 2015 • 7:34 PM

HouseFloor

Considered under the provisions of rule H. Res. 526. (consideration: CR H8297-8311; text of measure as reported in House: CR H8309)

November 18, 2015 • 1:43 PM

HouseFloor

Rule provides for consideration of H.R. 1737 and H.R. 511. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. For the purposes of requesting a conference with the Senate, the resolution provides that the House has taken S. 1177 from the Speaker's table, adopts an amendment in the nature of a substitute consisting of the text of H.R. 5, as passed by the House and adopts S. 1177, as amended. The resolution makes in order only those amendments to H.R. 1737 printed in the report. H.R. 511 shall be considered under a closed rule.

November 18, 2015 • 1:43 PM

HouseFloor

House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 526 and Rule XVIII.

November 18, 2015 • 1:44 PM

HouseFloor

The Speaker designated the Honorable Ted Poe to act as Chairman of the Committee.

November 18, 2015 • 1:44 PM

HouseFloor

GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1737.

November 18, 2015 • 1:44 PM

HouseFloor

DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Gosar amendment No. 1.

November 18, 2015 • 2:59 PM

HouseFloor

DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Smith (MO) amendment No. 2.

November 18, 2015 • 3:06 PM

HouseFloor

DEBATE - Pursuant to the provisions of H. Res. 526, the Committee of the Whole proceeded with 10 minutes of debate on the Sewell amendment No. 3.

November 18, 2015 • 3:13 PM

HouseFloor

The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1737.

November 18, 2015 • 3:19 PM

HouseFloor

The previous question was ordered pursuant to the rule. (consideration: CR H8311)

November 18, 2015 • 3:19 PM

HouseFloor

The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.

November 18, 2015 • 3:19 PM

HouseFloor

POSTPONED ROLL CALL VOTE - The Chair put the question on passage of H.R. 1737 and by voice vote, announced that the ayes had prevailed. Mr. Guinta demanded the yeas and nays and the Chair postponed further proceedings on the question of passage until a time to be announced.

November 18, 2015 • 3:21 PM

HouseFloor

Considered as unfinished business. (consideration: CR H8322)

November 18, 2015 • 5:17 PM

HouseFloor

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 332 - 96 (Roll no. 637).

View vote Passed

November 18, 2015 • 5:26 PM

HouseFloor

On passage Passed by the Yeas and Nays: 332 - 96 (Roll no. 637).

View vote Passed

November 18, 2015 • 5:26 PM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

November 18, 2015 • 5:26 PM

SenateIntro Referral

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

November 19, 2015

Voting History

1 vote recorded • Roll call available

HOUSE

Roll Call Available

November 18, 2015 at 5:26 PM

On Passage

Majority required: 1/2 (50%)

Passed

332 - 96

Bill Text

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Referred in SenateIssued November 19, 2015

IIB

114th CONGRESS

1st Session

H. R. 1737

IN THE SENATE OF THE UNITED STATES

November 19, 2015

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending.

Short title

This Act may be cited as the Reforming CFPB Indirect Auto Financing Guidance Act.

Nullification of auto lending guidance

Bulletin 2013–02 of the Bureau of Consumer Financial Protection (published March 21, 2013) shall have no force or effect.

Guidance requirements

Section 1022(b) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512(b)) is amended by adding at the end the following:

(5)

Guidance on indirect auto financing

In proposing and issuing guidance primarily related to indirect auto financing, the Bureau shall—

(A)

provide for a public notice and comment period before issuing the guidance in final form;

(B)

make available to the public, including on the website of the Bureau, all studies, data, methodologies, analyses, and other information relied on by the Bureau in preparing such guidance;

(C)

redact any information that is exempt from disclosure under paragraph (3), (4), (6), (7), or (8) of section 552(b) of title 5, United States Code;

(D)

consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and

(E)

conduct a study on the costs and impacts of such guidance to consumers and women-owned, minority-owned, veteran-owned, and small businesses, including consumers and small businesses in rural areas.

Rule of construction

Nothing in this Act shall be construed to apply to guidance issued by the Bureau of Consumer Financial Protection that is not primarily related to indirect auto financing.

Passed the House of Representatives November 18, 2015.

Karen L. Haas,

Clerk