,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #ajah  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #ac1         
#bjag,mr4 ,des,jarlais 7= himself & ,mr4
 ,duncan ( ,t5nessee7 introduc$ ! foll[+
 bill2 :i* 0 ref]r$ to ! ,committee on  
,f9ancial ,s]vices  ,a ,,bill  ,to      
replace ! ,director ( ! ,bureau (       
,consum] ,f9ancial ,protection ) a      
#e-p]son commission1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,,cfpb ,con/itutional ,re=m ,act (    
#bjag4  #b4 ,replac+ ! ,director ) a    
#e-p]son commission ,! ,consum]         
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #edha et seq47 is am5d$--     
7#a7 9 section #ajaa-- 7,a7 by /rik+    
subsections 7b71 7c71 & 7d72  7,b7 by   
r$esignat+ subsection 7e7 z subsection  
7h72 &  7,c7 by ins]t+ aft] subsection  
7a7 ! foll[+ new subsections3  7b7      
,bureau head$ by a commission  7#a7 ,9  
g5]al ,! ,bureau %all be head$ by a     
commission1 z provid$ "u ?is subsection4
  7#b7 ,composition ( ! commission  7,a7

 ,9 g5]al ,! commission %all be compos$ 
( #e memb]s :o %all be appo9t$ by !     
,presid5t1 by & ) ! advice & cons5t ( ! 
,s5ate1 f among individuals :o--  7i7   
are citiz5s ( ! ,unit$ ,/ates2 &  7ii7 h
 /rong compet5cies & exp]i5ces relat$ to
 consum] f9ancial products & s]vices4   
7,b7 ,/agg]+ ,! memb]s ( ! commission   
%all s]ve /agg]$ t]ms1 :i* initially    
%all be e/abli%$ by ! ,presid5t = t]ms (
 #a1 #b1 #c1 #d1 & #e ye>s1             
respectively4  7,c7 ,t]ms  7i7 ,9 g5]al 
,except z provid$ "u subp>agraph 7,b71  
ea* memb] ( ! commission1 includ+ !     
,*air1 %all s]ve = a t]m ( #e ye>s4     
7ii7 ,removal ,! ,presid5t may remove   
any memb] ( ! commission = ineffici5cy1 
neglect ( duty1 or malfeasance 9 (fice4 
7iii7 ,vacancies ,any memb] ( !         
commission 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  7iv7 ,cont9uation (   
s]vice ,ea* memb] ( ! commission 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  7v7 ,o!r employm5t
 prohibit$ ,no memb] ( ! commission %all
 engage 9 any o!r bus9ess1 vocation1 or 
employm5t4  7c7 ,affiliation ,n m ?an #c
 memb]s ( ! commission %all be memb]s ( 
any "o political p>ty4  7d7 ,*air  7#a7 
,appo9tm5t ,! ,*air ( ! commission %all 
be appo9t$ by ! ,presid5t f among !     
memb]s ( ! commission4  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  7e7 ,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  7f7 
,seal ,! ,commission %all h an (ficial  
seal4  7g7 ,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 ,! #d o!r memb]s ( !      
commission %all ea* receive comp5sation 
at ! rate prescrib$ = level ,,ii ( !    
,executive ,s*$ule "u section #ecad (   
title #e1 ,unit$ ,/ates ,code4  4  #c4  
,deem+ ( "n ,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 ! ,bureau ( 
,consum] ,f9ancial ,protection4  #d4    
,con=m+ am5dm5ts  7a7 ,consum] ,f9ancial
 ,protection ,act ( #bjaj  7#a7 ,9 g5]al
 ,except z provid$ "u p>agraph 7#b71 !  
,consum] ,f9ancial ,protection ,act (   
#bjaj 7#ab ,u4,s4,c4 #edha et seq47 is  
am5d$-- 7,a7 by /rik+ ,director ( !     
,bureau 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            
,protection1 & ins]t+ ,bureau2  7,b7 by 
/rik+ ,director ea* place su* t]m appe>s
 & ins]t+ ,bureau1 o!r ?an :]e su* t]m  
is us$ to ref] to a ,director o!r ?an ! 
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection2 &  7,c7 9 section
 #ajjb1 by /rik+ p>agraph 7#aj74  7#b7  
,exceptions ,! ,consum] ,f9ancial       
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#edha et seq47 is am5d$-- 7,a7 9 section
 #ajac7;c77#c7--  7i7 by /rik+ ,assi/ant
 ,director ( ! ,bureau = & ins]t+ ,head 
( ! ,(fice (2 &  7ii7 9 subp>agraph     
7,b71 by /rik+ ,assi/ant ,director &    
ins]t+ ,head ( ! ,(fice2  7,b7 9 section
 #ajac7;g77#b7-- 7i7 by /rik+ ,assi/ant 
director & ins]t+ ,head ( ! ,(fice2 &   
7ii7 by /rik+ an assi/ant director &    
ins]t+ a ,head ( ! ,(fice ( ,f9ancial   
,protection = ,old] ,am]icans2  7,c7 9  
section #ajaf7;a71 by /rik+ ,director ( 
! ,bureau & ins]t+ ,*air ( ! ,bureau2   

7,d7 9 section #ajag7;c77#a71 by /rik+  
,director & o!r2  7,e7 9 section        
#ajbg7l77#a71 by /rik+ ,director & !    
,bureau & ins]t+ ,*air & ! ,bureau2 &   
7,f7 9 section #ajff7;a71 by /rik+      
,director ( ! ,bureau is & ins]t+ fir/  
memb] ( ! ,bureau is4  7b7 ,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$--  7#a7 9 section                 
#aaa7;b77#a77;,d71 by /rik+ ,director ( 
! ,bureau & ins]t+ ,*air ( ! ,bureau2 & 
7#b7 9 section #addg1 by /rik+ ,director
 ( ! ,bureau ea* place su* t]m appe>s & 
ins]t+ ,bureau4  7c7 ,electronic ,fund  
,transf] ,act ,section #iba7;a77#d77;,c7
 ( ! ,electronic ,fund ,transf] ,act    
7#ae ,u4,s4,c4 #afico-#b7;a77#d77;,c77  
is am5d$ by /rik+ ,director ( ! ,bureau 
( ,consum] ,f9ancial ,protection &      
ins]t+ ,bureau4  7d7 ,exp$it$ ,funds    
,availability ,act ,! ,exp$it$ ,funds   
,availability ,act 7#ab ,u4,s4,c4 #djja 

et seq47 is am5d$ by /rik+ ,director ( !
 ea* place su* t]m appe>s4  7e7 ,f$]al  
,deposit ,insurance ,act ,section #b ( !
 ,f$]al ,deposit ,insurance ,act 7#ab   
,u4,s4,c4 #ahab7 is am5d$ by /rik+      
,director ( ! ,consum] ,f9ancial        
,protection ,bureau ea* place su* t]m   
appe>s & ins]t+ ,*air ( ! ,bureau (     
,consum] ,f9ancial ,protection4  7f7    
,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#d77 is am5d$ by /rik+        
,director ( ! ,consum] ,f9ancial        
,protection ,bureau & ins]t+ ,*air ( !  
,bureau ( ,consum] ,f9ancial            
,protection4  7g7 ,f9ancial ,lit]acy &  
,education ,improvem5t ,act ,section    
#eac ( ! ,f9ancial ,lit]acy & ,education
 ,improvem5t ,act 7#bj ,u4,s4,c4 #igjb7 
is am5d$ by /rik+ ,director ( ! ,bureau 
( ,consum] ,f9ancial ,protection ea*    
place su* t]m appe>s & ins]t+ ,*air ( ! 

,bureau ( ,consum] ,f9ancial            
,protection4  7h7 ,home ,mortgage       
,disclosure ,act ( #aige ,section #cjg (
 ! ,home ,mortgage ,disclosure ,act (   
#aige is am5d$ by /rik+ ,director ( !   
,bureau ( ,consum] ,f9ancial ,protection
 ea* place su* t]m appe>s & ins]t+      
,bureau ( ,consum] ,f9ancial            
,protection4  7i7 ,int]/ate ,l& ,sales  
,full ,disclosure ,act ,! ,int]/ate ,l& 
,sales ,full ,disclosure ,act is am5d$--
 7#a7 by am5d+ section #adjb7a7 to read 
z foll[s3  7#a7 ,*air means ! ,*air ( ! 
,bureau ( ,consum] ,f9ancial            
,protection2  2 &  7#b7 9 section       
#adaf7;a71 by /rik+ ,director ( !       
,bureau ( ,consum] ,f9ancial ,protection
 & ins]t+ ,*air4  7j7 ,real ,e/ate      
,settlem5t ,proc$ures ,act ( #aigd      
,section #e ( ! ,real ,e/ate ,settlem5t 
,proc$ures ,act ( #aigd 7#ab ,u4,s4,c4  
#bfjd7 is am5d$-- 7#a7 by /rik+ ,!      
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection 7h]eaft] 9 ?is    
section ref]r$ to z ! ,director7 &      

ins]t+ ,! ,bureau ( ,consum] ,f9ancial  
,protection2 &  7#b7 by /rik+ ,director 
ea* place su* t]m appe>s & ins]t+       
,bureau4  7k7 ,s4,a4,f4,e4 ,mortgage    
,lic5s+ ,act ( #bjjh ,! ,s4,a4,f4,e4    
,mortgage ,lic5s+ ,act ( #bjjh 7#ab     
,u4,s4,c4 #eaja et seq47 is am5d$--     
7#a7 by /rik+ ,director ea* place su*   
t]m appe>s 9 head+s & text & ins]t+     
,bureau2  7#b7 by /rik+ director ea*    
place su* t]m appe>s 9 head+s & ins]t+  
,bureau2 &  7#c7 9 section #aejc1 by    
/rik+ p>agraph 7#aj74  7l7 ,title #dd1  
,unit$ ,/ates ,code ,section #ceac7;c7 (
 title #dd1 ,unit$ ,/ates ,code is am5d$
 by /rik+ ,director ( ! ,bureau & ins]t+
 ,bureau4