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H. Rept. 114-56 1 (2015-04-06)

handle is hein.congrecreports/crptxszh0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Gp 114TH CONGRESS JREPT. 114 56 1st Session HOUSE OF REPRESENTATIVES Part 1 BUREAU ADVISORY COMMISSION TRANSPARENCY ACT APRIL 6, 2015.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 1265] [Including cost estimate of the Congressional Budget Office] [Including exchange of letters] The Committee on Financial Services, to whom was referred the bill (H.R. 1265) to apply the requirements of the Federal Advisory Committee Act to the Bureau of Consumer Financial Protection, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY H.R. 1265, the Bureau Advisory Commission Transparency Act would amend Section 1013 of the Dodd-Frank Act Wall Street Re- form and Consumer Protection Act (Dodd-Frank Act) (P.L. 111- 203) to apply the provisions of the Federal Advisory Committee Act of 1972 to the Bureau of Consumer Financial Protection (CFPB). BACKGROUND AND NEED FOR LEGISLATION Advisory committees have played an important role in shaping programs and policies of the federal government. Today, more than 60,000 members, on an average of 1,000 advisory committees, cur- rently advise the President and the Executive Branch on a diverse set of issues.1 The Federal Advisory Committee Act (FACA) (P.L. 92-463) was enacted in 1972 to control the growth and operation of the numerous committees, boards, commissions, councils, and similar groups which have been established to advise officers and lhttp://www.gsa.gov/portal/content/101010. 49-006

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