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![handle is hein.congrecreports/crptxaaup0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Gp
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
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