The Consumer Financial Protection Commission Act aims to establish the Consumer Financial Protection Commission as an independent agency within the Federal Reserve System. The bill seeks to enhance consumer protection in financial markets by consolidating and expanding the regulatory authority over consumer financial products and services. It proposes provisions for increased oversight, enforcement powers, and coordination among federal agencies to ensure fair treatment of consumers. If passed, this bill could lead to a more robust regulatory framework for safeguarding consumers in the financial sector.
2023-03-07: Introduced in House
2023-03-07: Referred to the House Committee on Financial Services.
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