H. Rept. 115-420 1 (2017-11-21)

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                   115TH CONGRESS                                    REPORT
                     1st Session   HOUSE OF REPRESENTATIVES          115-420





                       BUREAU OF CONSUMER FINANCIAL PROTECTION
                   EXAMINATION AND REPORTING THRESHOLD ACT OF 2017


                     NOVEMBER 21, 2017.-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

                                           together with

                                        MINORITY VIEWS

                                        [To accompany H.R. 3072]
                            [Including cost estimate of the Congressional Budget Office]
                    The Committee on Financial Services, to whom was referred the
                  bill  (H.R.   3072)  to   increase  from   $10,000,000,000  to
                  $50,000,000,000 the threshold figure at which regulated depository
                  institutions are subject to direct examination and reporting re-
                  quirements of the Bureau of Consumer Financial Protection, and
                  for other purposes, having considered the same, report favorably
                  thereon without amendment and recommend that the bill do pass.
                                      PURPOSE AND SUMMARY
                    Introduced by Representative William Lacy Clay on June 27,
                  2017, H.R. 3072, the Bureau of Consumer Financial Protection Ex-
                  amination and Reporting Threshold Act of 2017, amends Section
                  1025 of the Dodd-Frank Wall Street Reform and Consumer Protec-
                  tion Act to increase from $10 to $50 billion the threshold at which
                  depository institutions are subject to direct examination by and re-
                  porting requirements of the Consumer Financial Protection Bureau
                  (CFPB).
                              BACKGROUND AND NEED FOR LEGISLATION
                    Title X of the Dodd-Frank Act authorizes the CPFB to act as the
                  exclusive supervisory authority over banks, insured credit union
                      79-006

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