118th Congress · HOUSE BILLBILL

H.R. 5993 — Federal Reserve Loss Transparency Act

“To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes.”

Finance and financial sector

Introduced Oct 19, 2023

Last action Oct 25, 2023

Pipeline · Bill → Law

Step 1

Introduced

Oct 19, 2023

Step 2

Referred

Oct 25, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill prohibits transfers to the Consumer Financial Protection Bureau from the Board of Governors of the Federal Reserve System if Federal Reserve banks incur specified quarterly operating losses. The bureau is directly funded through transfers from the board.

Provisions · 3 sectionsIntroduced in House

Timeline · 2 actions

Oct 25, 2023

Referred to the House Committee on Financial Services.

Oct 19, 2023

Introduced in House