HR 1652 · in committee · significant
Rectifying UDAAP Act
- economy
What this bill does
- This bill limits the Consumer Financial Protection Bureau's power to penalize financial companies for abusive practices.
- Financial product providers and consumers are affected by changes to enforcement rules and discrimination protections.
- The bill requires cost-benefit analyses before rules are made and allows companies to fix violations if they self-report.
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Community Threads
Started by Cosponsor
- 01
How would requiring cost-benefit analyses before CFPB enforcement rules change which financial practices get regulated or prohibited?
- 02
What are the trade-offs between allowing companies to avoid penalties through self-reporting versus maintaining deterrent effects on abusive practices?
- 03
Which consumers and financial institutions would be most affected by reduced CFPB penalty authority for discrimination in credit and lending?
Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.
Sponsor · R-KY-6
Andy Barr
Citizen cosponsors
0
In Congress
7/ 435
House Reps cosponsoring
Introduced 2025-02-27
Joining the bill
Legislative timeline
2025-02-27 · house · IntroReferral
Referred to the House Committee on Financial Services.
2025-02-27 · IntroReferral
Introduced in House
2025-02-27 · IntroReferral
Introduced in House
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