,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #eecd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #ag1 #bjah ,mr4
 ,duffy 7= himself & ,mr4 ,p]lmutt]7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to am5d ! ,consum] ,f9ancial   
,protection ,act ( #bjaj to provide     
proc$ures = guidance issu$ by ! ,bureau 
( ,consum] ,f9ancial ,protection1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,give ,useful          
,in=mation to ,def9e ,effective         
,compliance ,act or ! ,,guide           
,compliance ,act4  #b4 ,proc$ures =     
,bureau guidance ,section #ajbb7;b7 ( ! 
,consum] ,f9ancial ,protection ,act (   
#bjaj is am5d$ by add+ at ! end !       
foll[+3  7#e7 ,proc$ures = ,bureau      
guidance  7,a7 ,guidance requirem5ts ,! 
,director %all issue guidance t is      
necess>y or appropriate to enable !     
,bureau to c>ry out ,f$]al consum]      
f9ancial law1 includ+ facilitat+        
compliance ) su* law4  7,b7 ,guidance   

def9$ ,= purposes ( ?is p>agraph1 ! t]m 
guidance--  7i7 means any writt5        
int]pretive or legislative rule1 int]im 
f9al rule1 bullet91 /atem5t ( policy1   
lett]1 exam9ation manual1 frequ5tly ask$
 "q1 or o!r docum5t issu$ by ! ,bureau  
reg>d+ compliance ) a ,f$]al consum]    
f9ancial law t is exempt f notice &     
comm5t rulemak+ requirem5ts "u section  
#eec7;b7 ( title #e1 ,unit$ ,/ates      
,code2 &  7ii7 does n include a         
compla9t1 cons5t ord]1 judgm5t1 or      
decision issu$ "u subtitle ,e4  7,c7    
,rulemak+  7i7 ,propos$ rule ,! ,bureau 
%all publi% 9 ! ,f$]al ,regi/] & on its 
website )9 #a ye> aft] ! date ( !       
enactm5t ( ?is p>agraph a propos$ rule  
def9+-- 7,i7 ea* type ( guidance x %all 
provide2  7,,ii7 ! crit]ia ! ,bureau w  
use = select+ ea* type ( guidance2      
7,,iii7 ! process & timel9es = reque/s =
 guidance2  7,,iv7 ! "t p]iods = !      
response ( ! ,bureau to a reque/ = ea*  
type ( guidance2  7,v7 a process = am5d+
 or revok+ guidance issu$ "u ! rule1    

includ+ a process = public notice &     
comm5t on any proposal to am5d or revoke
 guidance1 unless ! ,bureau det]m9es    
public notice & comm5t is n requir$ due 
to public exig5cy4  7ii7 ,f9al rule ,!  
,bureau %all publi% a f9al rule bas$ on 
! propos$ rule describ$ 9 clause 7i7 )9 
#ah mon?s aft] ! date ( ! enactm5t ( ?is
 p>agraph4  7,d7 ,reliance on ,bureau   
guidance ,no p]son %all be held liable =
 any act done or omitt$ 9 good fai? 9   
con=mity ) any applicable guidance f !  
,bureau or any pr$ecessor ag5cy t 0 9   
effect at ! "t ( su* act or omission1   
ev5 if su* guidance is lat] revok$1     
am5d$1 or r5d]$ inconsi/5t by guidance  
or action by ! ,bureau or a det]m9ation 
by a c\rt ( compet5t jurisdiction4  7,e7
 ,developm5t ( a p5alty matrix ,n lat]  
?an #ah mon?s aft] ! date ( ! enactm5t (
 ?is subp>agraph1 ! ,bureau %all publi% 
9 ! ,f$]al ,regi/] & on its website a   
propos$ rule e/abli%+ guidel9es =       
det]m9+ ! size ( any civil monet>y      
p5alties issu$ by ! ,bureau bas$ on !   

sev]ity ( ! actionable conduct 9        
violation ( a ,f$]al consum] f9ancial   
law & ! level ( culpability4 ,!         
regulations prescrib$ "u ?is p>agraph   
%all1 to ! fulle/ ext5t possible1 align 
) any *>t1 matrix1 rule1 or guidel9e    
publi%$ by ! ,(fice ( ! ,comptroll] ( ! 
,curr5cy1 ! ,f$]al ,deposit ,insurance  
,corporation1 or ! ,bo>d ( ,gov]nors ( !
 ,f$]al ,res]ve ,sy/em4  4