Section 1 Short Title
This Act may be cited as the “Protecting Consumers from Frivolous Claims Act of 2017”.
Protecting Consumers from Frivolous Claims Act of 2017
A BILL
To amend the Consumer Financial Protection Act of 2010 to clarify data and information sharing requirements regarding consumer complaints, and for other purposes.
Sec. 2 Promoting discretion within the Consumer Financial Protection Act
Subsection (b) of section 1013 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5493(b)) is amended—
in paragraph (1), by striking “shall establish” and inserting “may establish”;
in paragraph (2), by striking “shall establish” and inserting “may establish”; and
in subsection (D) of paragraph (3)—
by striking “To facilitate preparation of the reports required under subparagraph (C), supervision and enforcement activities, and monitoring of the market for consumer financial products and services, the” and inserting “The”; and
by adding at the end the following: “Information collected under this paragraph may not be made publicly available.”.