Bill Would Give Congress More Control over CFPB

The Manufactured Housing Institute (MHI)’s weekly newsletter notes on June 16, the House Financial Services and General Government Appropriations Subcommittee approved a nearly $20 billion FY 2012 spending bill, two billion short of current levels.  The bill includes provisions to limit the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).  The administration asked for $329 billion for the Consumer Financial Protection Bureau (CFPB).  The subcommittee approved $200 billion, and asked that, starting in 2013, appropriations for the CFPB go through Congress where it would be subject to Congressional oversight, instead of being funded through the Federal Reserve.  In addition, the measure would require “reports on ‘the costs and regulatory burdens associated with the Dodd-Frank Act.”


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