You are on page 1of 292
 
"MMiller,Andrew"09/25/200909:47AMToundisclosed-recipients:;ccSubjectCFPADiscussionDraft
Attached is the CFPA discussion draft 
 Not Responsive
(b)(6)
 
[DISCUSSION DRAFT]
SEPTEMBER 25, 2009
SECTION 1. SHORT TITLE.
1
This Act may be cited as the ‘‘Consumer Financial
2
Protection Agency Act of 2009’’.
3
SEC. 2. TABLE OF CONTENTS.
4
The table of contents for this Act is as follows:
5
Sec.1.Short title. Sec.2.Table of contents. TITLE I—CONSUMER FINANCIAL PROTECTION AGENCY Sec.101.Definitions. Subtitle A—Establishment of the Agency Sec.111.Establishment of the Consumer Financial Protection Agency. Sec.112.Director. Sec.113.Consumer Financial Protection Oversight Board. Sec.114.Executive and administrative powers. Sec.115.Administration. Sec.116.Consumer Advisory Board. Sec.117.Coordination. Sec.118.Reports to the Congress. Sec.119.Funding; fees and assessments; penalties and fines. Sec.120.Amendments relating to other administrative provisions. Sec.120A.Effective date. Subtitle B—General Powers of the Director and Agency Sec.121.Mandate and objectives. Sec.122.Authorities. Sec.123.Simultaneous and coordinated supervisory action. Sec.124.Limitations on authority of agency and director. Sec.125.Collection of information; confidentiality regulations. Sec.126.Monitoring; assessments of significant regulations; reports. Sec.127.Authority to restrict mandatory predispute arbitration. Sec.128.Registration and supervision of nondepository covered persons. Sec.129.Effective date. Subtitle C—Specific Authorities Sec.131.Prohibiting unfair, deceptive, or abusive acts or practices. Sec.132.Disclosures. Sec.133.Sales practices.
September 24, 2009 (10:00 p.m.)
F:\JMW\FS111\HR3126\MARK_003.XML
f:\VHLC\092409\092409.281.xml (449871|9)
 
2
Sec.134.Pilot disclosures. Sec.135.Adopting operational standards to deter unfair, deceptive, or abusive practices. Sec.136.Duties. Sec.137.Consumer rights to access information. Sec.138.Prohibited acts. Sec.139.Effective date. Subtitle D—Preservation of State Law Sec.141.Relation to State law. Sec.142.Preservation of enforcement powers of States. Sec.143.State law preemption standards for national banks and subsidiaries clarified. Sec.144.Visitorial standards. Sec.145.Clarification of law applicable to nondepository institution subsidi-aries. Sec.146.State law preemption standards for Federal savings associations and subsidiaries clarified. Sec.147.Visitorial standards. Sec.148.Clarification of law applicable to nondepository institution subsidi-aries. Sec.149.Effective date. Subtitle E—Enforcement Powers Sec.151.Definitions. Sec.152.Investigations and administrative discovery. Sec.153.Hearings and adjudication proceedings. Sec.154.Litigation authority. Sec.155.Relief available. Sec.156.Referrals for criminal proceedings. Sec.157.Employee protection. Sec.158.Effective date. Subtitle F—Transfer of Functions and Personnel; Transitional Provisions Sec.161.Transfer of certain functions. Sec.162.Designated transfer date. Sec.163.Savings provisions. Sec.164.Transfer of certain personnel. Sec.165.Incidental transfers. Sec.166.Interim authority of the Secretary. Subtitle G—Regulatory Improvements Sec.171.Collection of deposit account data. Sec.172.Small business data collection. Subtitle H—Conforming Amendments Sec.181.Amendments to the Inspector General Act of 1978. Sec.182.Amendments to the Privacy Act of 1974. Sec.183.Amendments to the Alternative Mortgage Transaction Parity Act of 1982. Sec.184.Amendments to the Consumer Credit Protection Act. Sec.185.Amendments to the Expedited Funds Availability Act.
September 24, 2009 (10:00 p.m.)
F:\JMW\FS111\HR3126\MARK_003.XML
f:\VHLC\092409\092409.281.xml (449871|9)

Reward Your Curiosity

Everything you want to read.
Anytime. Anywhere. Any device.
No Commitment. Cancel anytime.
576648e32a3d8b82ca71961b7a986505