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HR5993-118

In Committee

To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes.

118th Congress Introduced Oct 19, 2023

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

This bill, To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations.

Who Benefits and How

financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.

Who Bears the Burden and How

federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.

Key Provisions

  • Section H06503A38EB914EB3BD0E7AC7A6738BCA: 1. Short title This Act may be cited as the Federal Reserve Loss Transparency Act.
  • Section HF60C5AE3507147BA85CDF589B209328C: 2. Bureau funding Section 1017(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)) is amended— by redesignating paragraphs (3) through (5)...
  • Section HE7E7B3EDA1554D72ADB6CA2A7D897CF9: 3. Calculation of net earnings and total capital using GAAP Section 7 of the Federal Reserve Act (12 U.S.C. 289 et seq.) is amended— by redesignating the...

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.

At a Glance

What This Bill Does

This bill, To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Key Policy Areas

Finance, Government Operations

Primary Purpose

This bill, To amend the Consumer Financial Protection Act of 2010 to clarify the funding of the Bureau of Consumer Financial Protection, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Policy Domains

Finance Government Operations

Whole bill

Identified Gains
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
financial institutions, investors, and borrowers:
Identified Costs
  • federal implementing agencies
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
federal implementing agencies:
financial institutions, investors, and borrowers:

Sponsors

J. French Hill

J. French Hill

R-AR | Primary Sponsor

Legislative Progress

In Committee
Introduced Committee Passed
Oct 25, 2023

Referred to the Committee on Financial Services

Oct 19, 2023

Mr. Hill introduced the following bill

Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Finance Government Operations
Actor Mappings
"the_secretary"
→ The Secretary identified in the operative section

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology