Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
116TH CONGRESS
1ST SESSION
H. R. 442
To amend the Consumer Financial Protection Act of 2010 to extend the
supervisory authority of the Bureau of Consumer Financial Protection
to include assessing compliance with the Military Lending Act.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 10, 2019
Mr. BARR introduced the following bill; which was referred to the Committee
on Financial Services, and in addition to the Committee on Armed Serv-
ices, for a period to be subsequently determined by the Speaker, in each
case for consideration of such provisions as fall within the jurisdiction of
the committee concerned
A BILL
To amend the Consumer Financial Protection Act of 2010
to extend the supervisory authority of the Bureau of
Consumer Financial Protection to include assessing com-
pliance with the Military Lending Act.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Financial Protection
4
for Our Military Families Act’’.
5
VerDate Sep 11 2014
04:22 Jan 24, 2019
Jkt 089200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H442.IH
H442
kjohnson on DSK79L0C42 with BILLS
2
•HR 442 IH
SEC. 2. BUREAU EXAMINATION AUTHORITY WITH RESPECT
1
TO MILITARY LENDING ACT COMPLIANCE.
2
The Consumer Financial Protection Act of 2010 (12
3
U.S.C. 5481 et seq.) is amended—
4
(1) in section 1024(b)(1)(A), by inserting be-
5
fore the semicolon the following: ‘‘and section 987 of
6
title 10, United States Code’’;
7
(2) in section 1025(b)(1)—
8
(A) by redesignating subparagraphs (B)
9
and (C) as subparagraphs (C) and (D), respec-
10
tively; and
11
(B) by inserting after subparagraph (A)
12
the following:
13
‘‘(B) with respect to insured depository in-
14
stitutions, assessing compliance with the re-
15
quirements of section 987 of title 10, United
16
States Code;’’; and
17
(3) in section 1026(c)(1), by inserting before
18
the period the following: ‘‘and with the requirements
19
of section 987 of title 10, United States Code, of in-
20
sured depository institutions described in subsection
21
(a)’’.
22
Æ
VerDate Sep 11 2014
04:22 Jan 24, 2019
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6301
E:\BILLS\H442.IH
H442
kjohnson on DSK79L0C42 with BILLS