Consumer Financial Protection Safety and Soundness Improvement Act of 2011

Introduced in House

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.

Referred to the House Committee on Financial Services.

Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 13 - 9 .

Ordered to be Reported by the Yeas and Nays: 35 - 22.

Reported (Amended) by the Committee on Financial Services. H. Rept. 112-89.

Supplemental report filed by the Committee on Financial Services, H. Rept. 112-89, Part II.

Rules Committee Resolution H. Res. 358 Reported to House. Rule provides for consideration of H.R. 1315 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. In lieu of the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, it shall be in order to consider as an original bill for the purpose of amendment under the five-minute rule an amendment in the nature of a substitute consisting of the text of the Rules Committee Print dated July 14, 2011.

DEBATE - The House proceeded with 10 minutes of debate on the Michaud motion to recommit with instructions, pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a new section retaining the current two-thirds majority vote requirement for the Financial Stability Oversight Council to set aside a Consumer Financial Protection Bureau regulation designed to safeguard seniors from fraud relating to their Social Security and Medicare benefits, foreclosure, robosigning, reverse mortgages, and pensions or other retirement savings. Subsequently, the point of order was withdrawn.

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

The text of H.R. 830, as passed by the House, was appended to the end of H.R. 1315 as new matter.