,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #dgcg  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #ad1 #bjaf ,mr4  
,mulvaney introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices  ,a ,,bill  ,to protect ,/ate &
 ,tribal sov]eignty f unw>rant$         
infr+em5t by an indep5d5t ag5cy ( !     
,f$]al ,gov]nm5t by requir+ ! ,bureau ( 
,consum] ,f9ancial ,protection to ju/ify
 c]ta9 proposals to preempt ,/ate &     
,tribal law1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,/ate & ,tribal ,gov]nm5t ,sov]eignty   
,protection ,act ( #bjaf4  #b4 ,f9d+s ,!
 ,congress f9ds ! foll[+3  7#a7 ,! p ( !
 ,/ates creat$ ! national gov]nm5t :5 !y
 delegat$ to x ^? enum]at$ gov]nm5tal   
p[]s relat+ to matt]s beyond ! compet5ce
 ( ! individual ,/ates4 ,all o!r        
sov]eign p[]s1 save ^? expressly        
prohibit$ ! ,/ates by ! ,con/itution1   
are res]v$ to ! ,/ates or ! p4  7#b7 ,9 
mo/ areas ( gov]nm5tal conc]n1 ! ,/ates 
uniquely possess ! con/itutional        

au?ority1 ! res\rces1 & ! compet5ce to  
disc]n ! s5tim5ts ( ! p & to gov]n      
accord+ly4  7#c7 ,our con/itutional     
sy/em enc\rages a heal?y div]sity 9 !   
public policies adopt$ by ! p ( ! sev]al
 ,/ates accord+ to _! own conditions1   
ne$s1 & desires4 ,individual ,/ates &   
communities are free to exp]im5t ) a    
v>iety ( approa*es to public issues4    
,"o-size-fits-all approa*es to public   
policy problems c inhibit ! creation (  
effective solutions to problems4  7#d7  
,f$]al action limit+ ! policymak+       
discretion ( ! ,/ates %\ld be tak5 only 
:]e con/itutional & /atutory au?ority = 
! action is cle> & c]ta9 & ! national   
activity is necessitat$ by ! pres5ce ( a
 problem ( national scope4  7#e7 ,f$]al 
ag5cies mu/ recognize ! di/9ction betwe5
 problems ( national scope 7:i* may     
ju/ify ,f$]al action7 & problems t are  
m]ely common to ! ,/ates 7:i* w n ju/ify
 ,f$]al action because individual       
,/ates1 act+ individually or toge!r1 c  
effectively deal ) !m74  7#f7 ,on ,m>*  

#bf1 #bjae1 ! ,bureau ( ,consum]        
,f9ancial ,protection releas$ an outl9e 
( proposals "u consid]ation = pot5tial  
rulemak+s = payday1 vehicle title1 &    
simil> loans4  7#g7 ,! ,bureau ackn[l$g$
 t m>kets = payday1 vehicle title1 &    
simil> loans are regulat$ by a v>iety ( 
/ate laws1 z well z "s tribal &         
municipal laws4 ,! ,bureau specifically 
ackn[l$g$ t ,"s jurisdictions h impos$  
usury limits t prohibit l5d]s f (f]+    
high-co/ cr$it4 ,9 o!r jurisdictions1   
c]ta9 products are specifically au?oriz$
 by /ate laws1 (t5 craft$ z exceptions  
to g5]al /ate cr$it regulation1 includ+ 
consum] loan laws & g5]al usury limits4 
,"s ( ! /ates au?oriz+ ^! products h    
s\ght to regulate loan /ructures & l5d] 
practices 9 a v>iety ( ways1 includ+    
limit+ p]missible co/s1 re/rict+        
reborr[+ 9 c]ta9 circum/ances1 or sett+ 
a maximum ratio = ! am\nt ( debt on su* 
loans to gross mon?ly income4 ,/ates1   
tribes1 & local gov]nm5ts also impose a 
v>iety ( lic5sure requirem5ts on l5d]s  

engag$ 9 payday & vehicle title l5d+44  
,?is v>iation 9 ,/ate1 local1 & tribal  
law sugge/s a heal?y1 dynamic1 legal    
environm5t 9 :i* ! democratically elect$
 repres5tatives 9 ea* jurisdiction      
respond appropriately to ! p>ticul>     
conditions1 ne$s1 & desires ( _!        
con/itu5ts4  7#h7 ,not)/&+ ! =ego+1 !   
,director ( ! ,bureau seeks to e/abli% a
 f$]al floor = consum] protection =     
cov]$ loans1 ?us sub/itut+ ! ,director's
 own judgm5t = t ( ,/ate1 tribal1 &     
local gov]nm5ts4  7#i7 ,! ,bureau made  
no %[+ t any ,/ate or tribal gov]nm5t   
lacks ! legal au?ority to enact laws or 
regulations t are sub/antially simil> to
 ! ,bureau's outl9e ( proposals4  7#aj7 
,! ,bureau made no %[+ t any ,/ate or   
tribal gov]nm5t is incapable ( protect+ 
its citiz5s f pot5tial risks associat$ )
 us+ payday1 vehicle title1 & simil>    
loans4  7#aa7 ,! ,bureau's proposals1 if
 implem5t$1 w\ld be an unw>rant$        
infr+em5t ( ,/ate & tribal sov]eignty & 
a violation ( fundam5tal f$]ali/        

pr9ciples design$ to secure ! lib]ty ( !
 ,am]ican p4  #c4 ,moratorium  7a7      
,prohibition on payday loans1 vehicle   
title loans1 & o!r simil> loan          
regulations ,! ,bureau ( ,consum]       
,f9ancial ,protection may n issue or    
en=ce any rule or regulation ) respect  
to payday loans1 vehicle title loans1 or
 o!r simil> loans dur+ ! #bd-mon? p]iod 
beg9n+ on ! date ( enactm5t ( ?is ,act4 
7b7 ,payday loan ,= purposes ( ?is      
section ! t]m payday loan means a loan  
describ$ "u section #ajbd7;a77#a77;,e7 (
 ! ,consum] ,f9ancial ,protection ,act (
 #bjaj 7#ab ,u4,s4,c4                   
#eead7;a77#a77;,e774  #d4 ,protect+     
,/ate & tribal gov]nm5t sov]eignty      
,section #ajbb7;b7 ( ! ,consum]         
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #eeab7;b77 is am5d$ by add+ at
 ! end ! foll[+3  7#e7 ,protect+ ,/ate &
 tribal gov]nm5t sov]eignty ) respect to
 payday loans1 vehicle title loans1 &   
o!r simil> loans  7,a7 ,9 g5]al ,not)/&+
 any o!r provision ( law1 ! ,bureau may 

n issue any f9al rule or regulation to  
regulate payday loans1 vehicle title    
loans1 or o!r simil> loans1 unless !    
,bureau fir/--  7i7 consults )          
appropriate ,/ate1 tribal1 & local      
(ficials 9 ea* jurisdiction t may be    
affect$ by ! rule reg>d+ ! effect ( !   
rule on ,/ate1 tribal1 or local         
sov]eignty1 laws1 regulations1 &        
citiz5s2  7ii7 c>ries out a /udy t--    
7,i7 exam9es ! ,bureau's con/itutional &
 /atutory au?ority to preempt ,/ate1    
tribal1 & local laws & regulations2     
7,,ii7 exam9es ! effect ! rule or       
regulation w h on ! laws & regulations (
 individual ,/ates1 f$]ally recogniz$   
,indian tribes1 & municipalities2 &     
7,,iii7 id5tifies alt]native proposals  
to mitigate pot5tial risks associat$ )  
us+ payday loans1 vehicle title loans1 &
 o!r simil> loans )\t infr++ ^u ,/ate & 
tribal sov]eignty or preempt+ ,/ate &   
tribal laws & regulations2 &  7iii7     
issues a public report t-- 7,i7 conta9s 
all f9d+s & det]m9ations made by !      

,bureau 9 c>ry+ out su* /udy2  7,,ii7   
addresses all comm5ts & advice receiv$  
dur+ consultation ) ,/ate1 tribal1 &    
local (ficials2  7,,iii7 li/s ea* ,/ate1
 tribal1 or local law & regulation 7or  
any portion !re(7 ! ,bureau proposes to 
preempt by rule or regulation2  7,,iv7  
id5tifies by "n any ,/ate or f$]ally    
recogniz$ ,indian tribe t lacks ! legal 
au?ority to enact laws or regulations t 
are sub/antially simil> to ! rule or    
regulation1 & /ates ! basis = :y !      
,bureau has det]m9$ t ! ,/ate or f$]ally
 recogniz$ ,indian tribe lacks su*      
au?ority2 &  7,v7 id5tifies by "n any   
,/ate or f$]ally recogniz$ ,indian tribe
 ! ,director believes is incapable (    
protect+ its citiz5s f pot5tial risks   
associat$ ) us+ payday loans1 vehicle   
title loans1 & o!r simil> loans1 & /ates
 ! basis = :y ! ,bureau has det]m9$ t ! 
,/ate or f$]ally recogniz$ ,indian tribe
 is incapable ( su* protection4  7,b7   
,waiv] = ,/ate & tribal gov]nm5ts  7i7  
,9 g5]al ,) respect to a f9al rule or   

regulation issu$ by ! ,bureau to        
regulate payday loans1 vehicle title    
loans1 or o!r simil> loans1 if a ,/ate  
or a f$]ally recogniz$ ,indian tribe    
reque/s1 9 writ+1 = ! ,bureau to provide
 ! ,/ate or tribe ) a waiv] f su* rule  
or regulation1 ! ,director %all grant a 
#e-ye> waiv] to su* ,/ate or tribe1 dur+
 :i* su* rule or regulation %all n apply
 )9 su* ,/ate or l& held 9 tru/ = !     
b5efit ( su* f$]ally recogniz$ ,indian  
tribe4  7ii7 ,"r to r5ew waiv] ,a ,/ate 
or f$]ally recogniz$ ,indian tribe      
grant$ a waiv] "u clause 7i7 %all h ! "r
 to r5ew su* waiv] at ! end ( ea* #e-ye>
 waiv] p]iod4  4