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- S.3990
S.3990: Financial Product Safety Commission Act of 2020
About This Bill
- Introduced June 17, 2020
- Latest Major Action June 17, 2020
Bill Sponsor
Bill Cosponsors
5 (All Republicans)
Bill Version
- Introduced in Senate - June 17, 2020
Bill Summary
Financial Product Safety Commission Act of 2020 This bill removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| June 17, 2020 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|
| June 17, 2020 |
Introduced in the Senate by Deb Fischer (R-Neb.) |