,,ii  #aac? ,,congress  #b;d ,session   
,h4 ,r4 #caic  ,,9 ,,! ,,s5ate ,,( ,,!  
,,unit$ ,,/ates  ,m>* #d1 #bjad,receiv$ 
,,an ,,act  ,to am5d ! ,consum]         
,f9ancial ,protection ,act ( #bjaj to   
/r5g!n ! review au?ority ( ! ,f9ancial  
,/ability ,ov]sight ,c\ncil (           
regulations issu$ by ! ,bureau (        
,consum] ,f9ancial ,protection1 & = o!r 
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,consum] ,f9ancial ,fre$om 
& ,wa%+ton ,acc\ntability ,act4  #b4    
,f9ancial ,product ,safety ,commission  
7a7 ,e/abli%m5t ,section #ajaa ( !      
,consum] ,f9ancial ,protection ,act (   
#bjaj 7#ab ,u4,s4,c4 #edia7 is am5d$ to 
read z foll[s3  #ajaa4 ,e/abli%m5t ( !  
,f9ancial ,product ,safety ,commission  
7a7 ,e/abli%m5t ,!re is e/abli%$ an     
indep5d5t commission to be kn[n z !     
,f9ancial ,product ,safety ,commission  
7h]e9aft] ref]r$ to 9 ?is section z !   
,commission71 :i* %all regulate ! (f]+ &
 provision ( consum] f9ancial products  
or s]vices "u ! ,f$]al consum] f9ancial 

laws4 ,! ,commission %all be consid]$ an
 ,executive ag5cy1 z def9$ 9 section    
#aje ( title #e1 ,unit$ ,/ates ,code4   
,except z o!rwise provid$ expressly by  
law1 all ,f$]al laws deal+ ) public or  
,f$]al contracts1 prop]ty1 works1       
(fic]s1 employees1 budgets1 or funds1   
includ+ ! provisions ( *apt]s #e & #g ( 
title #e1 %all apply to ! ex]cise ( !   
p[]s ( ! ,commission4  7b7 ,au?ority ,to
 prescribe regulations ,! ,commission   
may prescribe su* regulations & issue   
su* ord]s 9 accordance ) ?is title z !  
,commission may det]m9e to be necess>y =
 c>ry+ out ?is title & all o!r laws )9 !
 ,commission's jurisdiction & %all      
ex]cise any au?orities grant$ "u ?is    
title & all o!r laws )9 ! ,commission's 
jurisdiction4  7c7 ,composition ( !     
,commission  7#a7 ,9 g5]al ,!           
,commission %all be compos$ ( ! ,vice   
,*airman = ,sup]vision ( ! ,f$]al       
,res]ve ,sy/em & #d additional memb]s :o
 %all be appo9t$ by ! ,presid5t1 by & ) 
! advice & cons5t ( ! ,s5ate1 f among   

individuals :o--  7,a7 are citiz5s ( !  
,unit$ ,/ates2 &  7,b7 h /rong          
compet5cies & exp]i5ces relat$ to       
consum] f9ancial protection4  7#b7      
,/agg]+ ,! memb]s ( ! ,commission       
appo9t$ "u p>agraph 7#a7 %all s]ve      
/agg]$ t]ms1 :i* initially %all be      
e/abli%$ by ! ,presid5t = t]ms ( #a1 #b1
 #d1 & #e ye>s1 respectively4  7#c7     
,t]ms  7,a7 ,9 g5]al ,ea* memb] ( !     
,commission appo9t$ "u p>agraph 7#a71   
includ+ ! ,*air1 %all s]ve = a t]m ( #e 
ye>s4  7,b7 ,removal ,! ,presid5t may   
remove any memb] ( ! ,commission appo9t$
 "u p>agraph 7#a74  7,c7 ,vacancies ,any
 memb] ( ! ,commission appo9t$ "u       
p>agraph 7#a7 appo9t$ to fill a vacancy 
occurr+ be=e ! expiration ( ! t]m to :i*
 t memb]'s pr$ecessor 0 appo9t$ 7includ+
 ! ,*air7 %all be appo9t$ only = !      
rema9d] ( ! t]m4  7,d7 ,cont9uation (   
s]vice ,ea* memb] ( ! ,commission       
appo9t$ "u p>agraph 7#a7 may cont9ue to 
s]ve aft] ! expiration ( ! t]m ( (fice  
to :i* t memb] 0 appo9t$ until a        

successor has be5 appo9t$ by ! ,presid5t
 & confirm$ by ! ,s5ate1 except t a     
memb] may n cont9ue to s]ve m ?an #a ye>
 aft] ! date on :i* t memb]'s t]m w\ld  
o!rwise expire4  7,e7 ,o!r employm5t    
prohibit$ ,no memb] ( ! ,commission     
appo9t$ "u p>agraph 7#a7 %all engage 9  
any o!r bus9ess1 vocation1 or employm5t4
  7d7 ,affiliation ,) respect to memb]s 
appo9t$ pursuant to subsection 7c77#a71 
n m ?an #b %all be memb]s ( any "o      
political p>ty4  7e7 ,*air ( !          
,commission  7#a7 ,appo9tm5t ,! ,*air ( 
! ,commission %all be appo9t$ by !      
,presid5t f among ! memb]s ( !          
,commission appo9t$ "u subsection       
7c77#a74  7#b7 ,au?ority ,! ,*air %all  
be ! pr9cipal executive (fic] ( !       
,commission1 & %all ex]cise all ( !     
executive & adm9i/rative functions ( !  
,commission1 includ+ ) respect to--     
7,a7 ! appo9tm5t & sup]vision ( p]sonnel
 employ$ "u ! ,commission 7o!r ?an      
p]sonnel employ$ regul>ly & full "t 9 ! 
imm$iate (fices ( memb]s ( ! ,commission

 o!r ?an ! ,*air72  7,b7 ! di/ribution (
 bus9ess among p]sonnel appo9t$ &       
sup]vis$ by ! ,*air & among adm9i/rative
 units ( ! ,commission2 &  7,c7 ! use & 
exp5diture ( funds4  7#c7 ,limitation ,9
 c>ry+ out any ( ! ,*air's functions "u 
! provisions ( ?is subsection ! ,*air   
%all be gov]n$ by g5]al policies ( !    
,commission & by su* regulatory         
decisions1 f9d+s1 & det]m9ations z !    
,commission may by law be au?oriz$ to   
make4  7#d7 ,reque/s or e/imates relat$ 
to appropriations ,reque/s or e/imates =
 regul>1 supplem5tal1 or defici5cy      
appropriations on behalf ( ! ,commission
 may n be submitt$ by ! ,*air )\t !     
prior approval ( ! ,commission4  7f7 ,no
 impairm5t by reason ( vacancies ,no    
vacancy 9 ! memb]s ( ! ,commission %all 
impair ! "r ( ! rema9+ memb]s ( !       
,commission to ex]cise all ! p[]s ( !   
,commission4 ,?ree memb]s ( !           
,commission %all con/itute a quorum = ! 
transaction ( bus9ess1 except t if !re  
are only #c memb]s s]v+ on ! ,commission

 because ( vacancies 9 ! ,commission1 #b
 memb]s ( ! ,commission %all con/itute a
 quorum = ! transaction ( bus9ess4 ,if  
!re are only #b memb]s s]v+ on !        
,commission because ( vacancies 9 !     
,commission1 #b memb]s %all con/itute a 
quorum = ! #f-mon? p]iod beg9n+ on !    
date ( ! vacancy :i* caus$ ! numb] (    
,commission memb]s to decl9e to #b4  7g7
 ,seal ,! ,commission %all h an (ficial 
seal4  7h7 ,comp5sation  7#a7 ,*air ,!  
,*air %all receive comp5sation at ! rate
 prescrib$ = level ,i ( ! ,executive    
,s*$ule "u section #ecac ( title #e1    
,unit$ ,/ates ,code4  7#b7 ,o!r memb]s (
 ! ,commission ,! #c o!r memb]s ( !     
,commission appo9t$ "u subsection       
7c77#a7 %all ea* receive comp5sation at 
! rate prescrib$ = level ,,ii ( !       
,executive ,s*$ule "u section #ecad (   
title #e1 ,unit$ ,/ates ,code4  7i7     
,initial quorum e/abli%$ ,dur+ any "t   
p]iod prior to ! confirmation ( at lea/ 
two memb]s ( ! ,commission1 "o memb] ( !
 ,commission %all con/itute a quorum = !

 transaction ( bus9ess4 ,foll[+ !       
confirmation ( at lea/ #b additional    
commission]s1 ! quorum requirem5ts (    
subsection 7f7 %all apply4  7j7 ,(fices 
,! pr9cipal (fice ( ! ,commission %all  
be 9 ! ,di/rict ( ,columbia4 ,!         
,commission may e/abli% regional (fices 
( ! ,commission 9 ord] to c>ry out !    
responsibilities assign$ to !           
,commission "u ! ,f$]al consum] f9ancial
 laws4  4  7b7 ,br++ ! ,commission into 
! regul> appropriations process ,section
 #ajag ( ! ,consum] ,f9ancial           
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#edig7 is am5d$--  7#a7 9 subsection    
7a7--  7,a7 by am5d+ ! head+ ( su*      
subsection to read z foll[s3 ,budget1   
f9ancial managem5t1 & audit4--2  7,b7 by
 /rik+ p>agraphs 7#a71 7#b71 & 7#c72    
7,c7 by r$esignat+ p>agraphs 7#d7 & 7#e7
 z p>agraphs 7#a7 & 7#b71 respectively2 
&  7,d7 by /rik+ subp>agraphs 7,e7 &    
7,f7 ( p>agraph 7#a71 z s r$esignat$2   
7#b7 by /rik+ subsections 7b7 & 7c72    
7#c7 by r$esignat+ subsections 7d7 & 7e7

 z subsections 7b7 & 7c71 respectively2 
&  7#d7 9 subsection 7c71 z s           
r$esignat$--  7,a7 by /rik+ p>agraphs   
7#a71 7#b71 & 7#c7 & ins]t+ ! foll[+3   
7#a7 ,au?orization ( appropriations ,!re
 is au?oriz$ to be appropriat$ to c>ry  
out ?is title #cjj1jjj1jjj = ea* (      
fiscal ye>s #bjad & #bjae4  2 &  7,b7 by
 r$esignat+ p>agraph 7#d7 z p>agraph    
7#b74  7c7 ,ensur+ ! indep5d5ce ( !     
,commission ,! ,consum] ,f9ancial       
,protection ,act ( #bjaj is am5d$--     
7#a7 9 section #ajab7;c7 7#ab ,u4,s4,c4 
#edib7;c771 by /rik+ p>agraphs 7#b71    
7#c71 7#d71 & 7#e72 &  7#b7 9 section   
#ajad7;b7 7#ab ,u4,s4,c4 #edid7;b771 by 
/rik+ ,n few] ?an #f memb]s %all be     
appo9t$ ^u ! recomm5dation ( ! regional 
,f$]al ,res]ve ,bank ,presid5ts1 on a   
rotat+ basis44  7d7 ,con=m+ am5dm5ts    
7#a7 ,consum] ,f9ancial ,protection ,act
 ( #bjaj  7,a7 ,9 g5]al ,except z       
provid$ "u subp>agraph 7,b71 ! ,consum] 
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #edha et seq47 is am5d$--  7i7

 by /rik+ ,director ( ! ea* place su*   
t]m appe>s1 o!r ?an :]e su* t]m is us$  
to ref] to a ,director o!r ?an !        
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection2  7ii7 by /rik+   
,director ea* place su* t]m appe>s &    
ins]t+ ,f9ancial ,product ,safety       
,commission1 o!r ?an :]e su* t]m is us$ 
to ref] to a ,director o!r ?an !        
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection2 &  7iii7 9       
section #ajjb 7#ab ,u4,s4,c4 #edha71 by 
/rik+ p>agraph 7#aj74  7,b7 ,exceptions 
,! ,consum] ,f9ancial ,protection ,act (
 #bjaj is am5d$--  7i7 9 section        
#ajab7;c77#d7 7#ab ,u4,s4,c4            
#edib7;c77#d771 by /rik+ ,director ea*  
place su* t]m appe>s & ins]t+ ,f9ancial 
,product ,safety ,commission2  7ii7 9   
section #ajac7;c77#c7 7#ab ,u4,s4,c4    
#edic7;c77#c77--  7,i7 by /rik+         
,assi/ant ,director ( ! ,bureau = &     
ins]t+ ,head ( ! ,(fice (2 &  7,,ii7 9  
subp>agraph 7,b71 by /rik+ ,assi/ant    
,director & ins]t+ ,head ( ! ,(fice2    

7iii7 9 section #ajac7;g77#b7 7#ab      
,u4,s4,c4 #edic7;g77#b77--  7,i7 by     
/rik+ ,assi/ant director & ins]t+ ,head 
( ! ,(fice2 &  7,,ii7 by /rik+ an       
assi/ant director & ins]t+ a ,head ( !  
,(fice ( ,f9ancial ,protection = ,old]  
,am]icans2  7iv7 9 section #ajaf7;a7    
7#ab ,u4,s4,c4 #edif7;a771 by /rik+     
,director ( ! ,bureau & ins]t+ ,*air ( !
 ,commission2 &  7v7 9 section #ajff7;a7
 7#ab ,u4,s4,c4 #eehf7;a771 by /rik+    
,director ( ! ,bureau is & ins]t+ fir/  
memb] ( ! ,commission is4  7#b7         
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act ,!            
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4
 #ecja et seq47 is am5d$--  7,a7 9 !    
table ( cont5ts = su* ,act by am5d+ !   
item relat+ to section #ajaa to read z  
foll[s3  ,sec4 #ajaa4 ,e/abli%m5t ( !   
,f9ancial ,product ,safety ,commission4 
2  7,b7 9 section #aaa7;b77#a77;,d7 7#ab
 ,u4,s4,c4 #ecba7;b77#a77;,d771 by /rik+
 ,director & ins]t+ ,*air ( ! ,f9ancial 

,product ,safety ,commission2 &  7,c7 9 
section #addg 7#ab ,u4,s4,c4 #agjap-#b71
 by /rik+ ,director ( ! ,bureau ea*     
place su* t]m appe>s & ins]t+ ,f9ancial 
,product ,safety ,commission4  7#c7     
,electronic ,fund ,transf] ,act ,section
 #ibj7;a77#d77;,c7 ( ! ,electronic ,fund
 ,transf] ,act 7#ae ,u4,s4,c4           
#afico-#b7;a77#d77;,c771 z add$ by      
section #ajge7;a77#b7 ( ! ,consum]      
,f9ancial ,protection ,act ( #bjaj1 is  
am5d$ by /rik+ ,director ( ! ,bureau (  
,consum] ,f9ancial ,protection & ins]t+ 
,f9ancial ,product ,safety ,commission4 
7#d7 ,exp$it$ ,funds ,availability ,act 
,! ,exp$it$ ,funds ,availability ,act   
7#ab ,u4,s4,c4 #djja et seq471 z am5d$  
by section #ajhf ( ! ,consum] ,f9ancial 
,protection ,act ( #bjaj1 is am5d$ by   
/rik+ ,director ( ! ,bureau ea* place   
su* t]m appe>s & ins]t+ ,f9ancial       
,product ,safety ,commission4  7#e7     
,f$]al ,deposit ,insurance ,act ,section
 #b ( ! ,f$]al ,deposit ,insurance ,act 
7#ab ,u4,s4,c4 #ahab71 z am5d$ by       

section #ccf7;a7 ( ! ,dodd-,frank ,wall 
,/reet ,re=m & ,consum] ,protection     
,act1 is am5d$ by /rik+ ,director ( !   
,consum] ,f9ancial ,protection ,bureau  
ea* place su* t]m appe>s & ins]t+ ,*air 
( ! ,f9ancial ,product ,safety          
,commission4  7#f7 ,f$]al ,f9ancial     
,in/itutions ,exam9ation ,c\ncil ,act ( 
#aigh ,section #ajjd7;a77#d7 ( ! ,f$]al 
,f9ancial ,in/itutions ,exam9ation      
,c\ncil ,act ( #aigh 7#ab ,u4,s4,c4     
#ccjc7;a77#d771 z am5d$ by section #ajia
 ( ! ,consum] ,f9ancial ,protection ,act
 ( #bjaj1 is am5d$ by /rik+ ,director ( 
! ,consum] ,f9ancial ,protection ,bureau
 & ins]t+ ,*air ( ! ,f9ancial ,product  
,safety ,commission4  7#g7 ,f9ancial    
,lit]acy & ,education ,improvem5t ,act  
,section #eac ( ! ,f9ancial ,lit]acy &  
,education ,improvem5t ,act 7#bj        
,u4,s4,c4 #igjb71 z am5d$ by section    
#ajac7;d77#e7 ( ! ,consum] ,f9ancial    
,protection ,act ( #bjaj1 is am5d$ by   
/rik+ ,director ea* place su* t]m appe>s
 & ins]t+ ,*air ( ! ,commission4  7#h7  

,home ,mortgage ,disclosure ,act ( #aige
 ,section #cjg ( ! ,home ,mortgage      
,disclosure ,act ( #aige 7#ab ,u4,s4,c4 
#bhjf71 z am5d$ by section #ajid7f7 ( ! 
,consum] ,f9ancial ,protection ,act (   
#bjaj1 is am5d$ by /rik+ ,director ( !  
,bureau ( ,consum] ,f9ancial ,protection
 ea* place su* t]m appe>s & ins]t+      
,f9ancial ,product ,safety ,commission4 
7#i7 ,int]/ate ,l& ,sales ,full         
,disclosure ,act ,! ,int]/ate ,l& ,sales
 ,full ,disclosure ,act 7#ae ,u4,s4,c4  
#agja et seq471 z am5d$ by section      
#ajih;,a ( ! ,consum] ,f9ancial         
,protection ,act ( #bjaj1 is am5d$--    
7,a7 by am5d+ section #adjb7a7 7#ae     
,u4,s4,c4 #agja7a77 to read z foll[s3   
7#a7 ,*air means ! ,*air ( ! ,f9ancial  
,product ,safety ,commission2  2 &  7,b7
 9 section #adaf7;a7 7#ae ,u4,s4,c4     
#agae7;a771 by /rik+ ,director ( !      
,bureau ( ,consum] ,f9ancial ,protection
 & ins]t+ ,*air4  7#aj7 ,real ,e/ate    
,settlem5t ,proc$ures ,act ( #aigd      
,section #e ( ! ,real ,e/ate ,settlem5t 

,proc$ures ,act ( #aigd 7#ab ,u4,s4,c4  
#bfjd71 z am5d$ by section #adej ( !    
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act1 is am5d$--   
7,a7 by /rik+ ,! ,director ( ! ,bureau (
 ,consum] ,f9ancial ,protection 7h]eaft]
 9 ?is section ref]r$ to z ! ,director7 
& ins]t+ ,! ,f9ancial ,product ,safety  
,commission2 &  7,b7 by /rik+ ,director 
ea* place su* t]m appe>s & ins]t+       
,f9ancial ,product ,safety ,commission4 
7#aa7 ,s4,a4,f4,e4 ,mortgage ,lic5s+    
,act ( #bjjh ,! ,s4,a4,f4,e4 ,mortgage  
,lic5s+ ,act ( #bjjh 7#ab ,u4,s4,c4     
#eaja et seq471 z am5d$ by section #aajj
 ( ! ,consum] ,f9ancial ,protection ,act
 ( #bjaj1 is am5d$--  7,a7 by /rik+     
,director ea* place su* t]m appe>s 9    
head+s & text1 o!r ?an :]e su* t]m is   
us$ 9 ! context ( ! ,director ( ! ,(fice
 ( ,?rift ,sup]vision1 & ins]t+         
,f9ancial ,product ,safety ,commission2 
&  7,b7 9 section #aejc 7#ab ,u4,s4,c4  
#eajb71 by /rik+ p>agraph 7#aj74  7#ab7 
,title #dd1 ,unit$ ,/ates ,code ,section

 #ceac7;c7 ( title #dd1 ,unit$ ,/ates   
,code1 z am5d$ by section #aajj;,d7b7 ( 
! ,consum] ,f9ancial ,protection ,act ( 
#bjaj1 is am5d$ by /rik+ ,director ( !  
,bureau & ins]t+ ,f9ancial ,product     
,safety ,commission4  7e7 ,deem+ ( names
  7#a7 ,bureau ( ,consum] ,f9ancial     
,protection ,any ref]5ce 9 a law1       
regulation1 docum5t1 pap]1 or o!r record
 ( ! ,unit$ ,/ates to ! ,bureau (       
,consum] ,f9ancial ,protection %all be  
deem$ a ref]5ce to ! ,f9ancial ,product 
,safety ,commission4  7#b7 ,director    
,any ref]5ce 9 a law1 regulation1       
docum5t1 pap]1 or o!r record ( ! ,unit$ 
,/ates to ! ,director ( ! ,bureau (     
,consum] ,f9ancial ,protection %all be  
deem$ a ref]5ce to ! ,*air ( ! ,f9ancial
 ,product ,safety ,commission4  #c4     
,rate ( pay = employees ( ! ,f9ancial   
,product ,safety ,commission  7a7 ,9    
g5]al ,section #ajac7;a77#b7 ( !        
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7#ab ,u4,s4,c4
 #edic7;a77#b77 is am5d$ to read z      

foll[s3  7#b7 ,comp5sation ,! rates (   
basic pay = all employees ( ! ,f9ancial 
,product ,safety ,commission %all be set
 & adju/$ 9 accordance ) ! ,g5]al       
,s*$ule set =? 9 section #eccb ( title  
#e1 ,unit$ ,/ates ,code4  4  7b7        
,effective date ,! am5dm5t made by      
subsection 7a7 %all apply to s]vice by  
an employee ( ! ,f9ancial ,product      
,safety ,commission foll[+ ! #ij-;day   
p]iod beg9n+ on ! date ( enactm5t ( ?is 
,act4  #d4 ,consum] "r to f9ancial      
privacy  7a7 ,requirem5t ( ! ,f9ancial  
,product ,safety ,commission ,to obta9  
p]mission be=e collect+ nonpublic       
p]sonal in=mation  7#a7 ,requir$        
notification & p]mission ,section       
#ajbb7;c77#i77;,a7 ( ! ,dodd-,frank     
,wall ,/reet ,re=m & ,consum]           
,protection ,act 7#ab ,u4,s4,c4         
#eeab7;c77#i77;,a77 is am5d$--  7,a7 by 
/rik+ may n obta9 f a cov]$ p]son or    
s]vice provid] & ins]t+ may n reque/1   
obta91 access1 collect1 use1 reta91 or  
disclose2  7,b7 by /rik+ p]sonally      

id5tifiable f9ancial & ins]t+ nonpublic 
p]sonal2 &  7,c7 by /rik+ f ! f9ancial  
records & all t foll[s ?r\gh ! p]iod at 
! end & ins]t+  unless-- 7i7 ! ,f9ancial
 ,product ,safety ,commission cle>ly &  
conspicu\sly discloses to ! consum]1 9  
writ+ or 9 an electronic =m1 :at        
in=mation w be reque/$1 obta9$1 access$1
 collect$1 us$1 reta9$1 or disclos$2 &  
7ii7 be=e su* in=mation is reque/$1     
obta9$1 access$1 collect$1 us$1 reta9$1 
or disclos$1 ! consum] in=ms ! ,f9ancial
 ,product ,safety ,commission t su*     
in=mation may be reque/$1 obta9$1       
access$1 collect$1 us$1 reta9$1 or      
disclos$4  4  7#b7 ,application (       
requirem5t to contractors ( ! ,f9ancial 
,product ,safety ,commission ,section   
#ajbb7;c77#i77;,b7 ( su* ,act 7#ab      
,u4,s4,c4 #eeab7;c77#i77;,b77 is am5d$  
to read z foll[s3  7,b7 ,application (  
requirem5t to contractors ( ! ,f9ancial 
,product ,safety ,commission            
,subp>agraph 7,a7 %all apply to any     
p]son direct$ or engag$ by ! ,f9ancial  

,product ,safety ,commission to collect 
in=mation to ! ext5t su* in=mation is   
be+ collect$ on behalf ( ! ,f9ancial    
,product ,safety ,commission4  4  7#c7  
,def9ition ( nonpublic p]sonal in=mation
 ,section #ajbb7;c77#i7 ( su* ,act 7#ab 
,u4,s4,c4 #eeab7;c77#i77 is am5d$ by    
add+ at ! end ! foll[+3  7,c7 ,def9ition
 ( nonpublic p]sonal in=mation ,9 ?is   
p>agraph1 ! t]m nonpublic p]sonal       
in=mation has ! mean+ giv5 ! t]m 9      
section #eji ( ! ,gramm-,lea*-,bliley   
,act 7#ae ,u4,s4,c4 #fhji74  4  7b7     
,removal ( exemption = ! ,f9ancial      
,product ,safety ,commission f ! ,"r to 
,f9ancial ,privacy ,act ,section #aaac (
 ! ,"r to ,f9ancial ,privacy ,act (     
#aigh 7#ab ,u4,s4,c4 #cdac7 is am5d$ by 
/rik+ subsection 7r74  #e4 ,consum]     
f9ancial protection safety & s\ndness   
improvem5ts  7a7 ,c\ncil vot+ proc$ure  
,section #ajbc7;c77#c77;,a7 ( ! ,consum]
 ,f9ancial ,protection ,act ( #bjaj 7#ab
 ,u4,s4,c4 #eeac7;c77#c77;,a77 is       
am5d$--  7#a7 by /rik+ #b_/c & ins]t+ a 

majority2 &  7#b7 by ins]t+ be=e ! p]iod
 ! foll[+3 1 exclud+ ! ,*air ( !        
,f9ancial ,product ,safety ,commission4 
7b7 ,review au?ority ( ! ,c\ncil        
,section #ajbc ( ! ,consum] ,f9ancial   
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#eeac7 is am5d$--  7#a7 9 subsection    
7a7--  7,a7 by /rik+ may & ins]t+ %all2 
&  7,b7 by /rik+ regulation or provision
 w\ld put ! safety & s\ndness ( ! ,unit$
 ,/ates bank+ sy/em or ! /ability ( !   
f9ancial sy/em ( ! ,unit$ ,/ates at risk
 & ins]t+ regulation :i* is ! subject ( 
! petition is inconsi/5t ) ! safe & s\nd
 op]ations ( ,unit$ ,/ates f9ancial     
in/itutions2 &  7#b7 9 subsection 7c7-- 
7,a7 9 p>agraph 7#c77;,b77ii71 by /rik+ 
w\ld put ! safety & s\ndness ( ! ,unit$ 
,/ates bank+ sy/em or ! /ability ( !    
f9ancial sy/em ( ! ,unit$ ,/ates at risk
 & ins]t+ is inconsi/5t ) ! safe & s\nd 
op]ations ( ,unit$ ,/ates f9ancial      
in/itutions2  7,b7 9 p>agraph 7#d7--    
7i7 by /rik+ subp>agraph 7,b72 &  7ii7  
by r$esignat+ subp>agraph 7,c7 z        

subp>agraph 7,b72  7,c7 by /rik+        
p>agraph 7#e72 &  7,d7 by r$esignat+    
p>agraphs 7#f71 7#g71 & 7#h7 z p>agraphs
 7#e71 7#f71 & 7#g71 respectively4  7c7 
,safety & s\ndness *eck ,section        
#ajbb7;b77#b77;,a7 ( ! ,consum]         
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #eeab7;b77#b77;,a77 is am5d$--
  7#a7 9 clause 7i71 by /rik+ & at !    
end2  7#b7 9 clause 7ii71 by add+ & at !
 end2 &  7#c7 by add+ at ! end ! foll[+3
  7iii7 ! impact ( su* rule on !        
f9ancial safety or s\ndness ( an insur$ 
depository in/itution2  4  #f4 ,analysis
 ( regulations ,section #ajbb ( !       
,consum] ,f9ancial ,protection ,act (   
#bjaj 7#ab ,u4,s4,c4 #eeab7 is am5d$ by 
add+ at ! end ! foll[+ new subsection3  
7e7 ,analysis ( regulations  7#a7 ,9    
g5]al ,ea* "t ! ,commission proposes a  
new rule or regulation1 ! ,commission   
%all--  7,a7 c>ry out an initial        
regulatory flexibility analysis = su*   
propos$ rule or regulation1 :i* %all be 
c>ri$ out z closely z possible to ^?    

initial regulatory flexibility analyses 
requir$ "u section #fjc ( title #e1     
,unit$ ,/ates ,code1 b :i* %all analyze 
! f9ancial impact ( ! propos$ rule or   
regulation on cov]$ p]sons1 reg>dless ( 
size2 &  7,b7 c>ry out an analysis (    
:e!r ! propos$ rule or regulation w     
impair ! ability ( individuals & small  
bus9esses to h access to cr$it4  7#b7   
,report ,! ,commission %all issue a     
report to ! ,c\ncil on ea* analysis     
c>ri$ out "u p>agraph 7#a71 & make su*  
analysis available to ! public4  7#c7   
,use ( exi/+ res\rces ,! ,commission    
%all use exi/+ res\rces to c>ry out !   
requirem5ts ( ?is subsection4  4  #g4   
,repeal ( exclusive rulemak+ au?ority   
,section #ajbb7;b7 ( ! ,consum]         
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #eeab7;b77 is am5d$ by /rik+  
p>agraph 7#d74  ,pass$ ! ,h\se (        
,repres5tatives ,febru>y #bg1 #bjad4,k>5
 ,l4 ,haas1,cl]k