US Codex
Bill
Notes

To amend the Consumer Financial Protection Act of 2010 to require that no deference be given to the interpretation of consumer financial law by the Bureau of Consumer Financial Protection, to define the scope of judicial review of Bureau actions, and for other purposes.

H.R. 5490 · 114th Congress · Jun 15, 2016 · Lineage

A BILL

Section 1 No deference to the interpretation of consumer financial law by the Bureau of Consumer Financial Protection

(a)
No deference to Bureau interpretation over the interpretation of another agency— The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is amended—
(1)
in section 1022(b)(4)—
(A)
by striking “(A) In general.—”; and
(B)
by striking subparagraph (B); and
(2)
in section 1061(b)(5)(E)—
(A)
by striking “affords the—” and all that follows through “(i) Federal Trade Commission” and inserting “affords the Federal Trade Commission”;
(B)
by striking “; or” and inserting a period; and
(C)
by striking clause (ii).

Sec. 2 Scope of judicial review of Bureau actions

Section 1022 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512) is amended by adding at the end the following:

“(e) Scope of judicial review of agency actions—Notwithstanding any other provision of law, in any judicial review of an agency action of the Bureau pursuant to chapter 7 of title 5, United States Code, to the extent necessary to decision and when presented, the reviewing court shall determine the meaning or applicability of the terms of an agency action of the Bureau and decide de novo all relevant questions of law, including the interpretation of constitutional and statutory provisions, and rules made by the Bureau. Notwithstanding any other provision of law, this subsection shall apply in any action for judicial review of an agency action of the Bureau authorized under any provision of law. No law may exempt any such civil action from the application of this subsection except by specific reference to this subsection.”