,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #dfib  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bd1         
#bjbj,mr4 ,lank=d 7= himself1 ,mr4      
,tillis1 & ,mr4 ,scott ( ,s\? ,c>ol9a7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,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 ,def9itions ,9 ?is       
p>agraph-- 7i7 ! t]m ,bureau means--    
7,i7 ! ,director ( ! ,bureau2  7,,ii7 ! 
,deputy ,director ( ! ,bureau2 &        

7,,iii7 any employee ( ! ,bureau        
describ$ 9 section #ajac7;a77#a77;,b72 &
  7ii7 ! t]m guidance-- 7,i7 means--    
7aa7 an ag5cy /atem5t ( g5]al           
applicability & future effect1 o!r ?an a
 regulatory action1 t sets =? a policy  
on a /atutory1 regulatory1 or te*nical  
issue or an int]pretation ( a /atutory  
or regulatory issue2 &  7bb7 any writt5 
int]pretive rule1 bullet91 /atem5t (    
policy1 lett]1 exam9ation manual1       
frequ5tly ask$ "q1 notice1 directive1   
news release1 blog po/1 small entity    
compliance guide1 or o!r au?oritative   
docum5t issu$ by ! ,bureau reg>d+       
compliance ) a ,f$]al consum] f9ancial  
law2 &  7,,ii7 does n include-- 7aa7 a  
purely int]nal ,bureau policy2  7bb7 a  
law en=cem5t communication su* z a      
compla9t1 cons5t ord]1 judgm5t1 legal   
op9ion1 w>n+ lett]1 inve/igatory lett]1 
notice ( he>+1 civil inve/igative dem&1 
subpo5a1 no-action lett]1 advisory      
op9ion1 or any reque/ 9 lieu ( ! =ego+2 
7cc7 an individualiz$ sup]visory        

communication su* z a sup]visory lett]1 
report ( exam9ation1 memor&um ( und]/&+1
 bo>d resolution1 matt] requir+         
att5tion1 or individualiz$ communication
 or agreem5t pursuant to ! sup]visory   
au?ority ( ! ,bureau2 or  7dd7 a        
decision issu$ "u subtitle ,e4  7,b7    
,guidance requirem5ts ,! ,director %all 
issue guidance t is necess>y or         
appropriate to enable ! ,bureau to c>ry 
out ,f$]al consum] f9ancial law1 includ+
 facilitat+ compliance ) su* law4  7,c7 
,rulemak+  7i7 ,propos$ rule ,n lat] ?an
 #ah mon?s aft] ! date ( enactm5t ( ?is 
p>agraph1 ! ,bureau %all publi% 9 !     
,f$]al ,regi/] & on ! website ( !       
,bureau a propos$ rule def9+-- 7,i7 ea* 
type ( guidance ! ,bureau %all provide2 
7,,ii7 ! crit]ia ! ,bureau %all 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 input on any        
proposal to am5d or revoke guidance1    
unless ! ,bureau det]m9es public input  
is n requir$ due to public exig5cy4     
7ii7 ,f9al rule ,n lat] ?an #a ye> aft] 
! date on :i* ! propos$ rule describ$ 9 
clause 7i7 is publi%$1 ! ,bureau %all   
publi% a f9al rule bas$ on ! propos$    
rule4  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 ( ! act or omission1 ev5 
if ! 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  7i7      
,propos$ rule ,n lat] ?an #ah mon?s aft]
 ! date ( ! enactm5t ( ?is subp>agraph1 
! ,bureau %all publi% 9 ! ,f$]al ,regi/]
 & on ! website ( ! ,bureau a propos$   
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 ! ext5t possible1
 align ) any *>t1 matrix1 rule1 or      
guidel9e publi%$ by ! ,(fice ( !        
,comptroll] ( ! ,curr5cy1 !             
,corporation1 or ! ,bo>d ( ,gov]nors4   
7ii7 ,f9al rule ,n lat] ?an #a ye> aft] 
! date on :i* ! propos$ rule describ$ 9 
clause 7i7 is publi%$1 ! ,bureau %all   
publi% a f9al rule bas$ on ! propos$    
rule4  4