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Senators Toomey and Hagerty Propose Bill to Change CFPB Structure

Senator Pat J. Toomey (R-PA) and Senator Bill Hagerty (R-TN) introduced the CFPB Stability Act, a bill that would change the composition of the agency and subject it to the regular congressional appropriations process. Under the bill, the position of director, currently responsible for managing the CFPB, would be replaced with a bipartisan five-member commission.

Primary Sources

  1. Proposed Bill: The CFPB Stability Act
  2. Senate Banking Committee Minority Press Release: Toomey, Hagerty Introduce Bill to Make CFPB Accountable to Congress

Tags

Individuals
Patrick J. Toomey
Regulated Activities
Governance Regulatory Structure
Regulated Entities
Regulatory Agencies
Body of Law
Administrative Law
Jurisdiction
US - Federal
Organization
US Congress