Financial Protection for Our Military Families Act

I 116TH CONGRESS 1ST SESSION H. R. 2904 To amend the Consumer Financial Protection Act of 2010 to extend certain supervisory authority of the Bureau of Consumer Financial Protection to include assessing compliance with the Military Lending Act. IN THE HOUSE OF REPRESENTATIVES MAY 22, 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 certain supervisory authority of the Bureau of Consumer Financial Protection to include assessing compliance 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 06:06 Jun 05, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2904.IH H2904 kjohnson on DSK79L0C42 with BILLS 2 •HR 2904 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’’; and 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) assessing compliance with the re- 14 quirements of section 987 of title 10, United 15 States Code;’’. 16 Æ VerDate Sep 11 2014 06:06 Jun 05, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2904.IH H2904 kjohnson on DSK79L0C42 with BILLS