1. Short title
This Act may be cited as the “Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014”.
Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014
A BILL
To increase from $10,000,000,000 to $50,000,000,000 the threshold figure at which regulated depository institutions are subject to direct examination and reporting requirements of the Bureau of Consumer Financial Protection, and for other purposes.
2. Increase in the examination threshold
Section 1025(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5515(a)) is amended by striking “$10,000,000,000” each place that term appears and inserting “$50,000,000,000”.
3. Increase in the reporting threshold
Section 1026(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5516(a)) is amended by striking “$10,000,000,000” each place that term appears and inserting “$50,000,000,000”.
4. Effective date
This Act and the amendments made by this Act shall take effect on the date that is 45 days after the date of enactment of this Act.