This bill revises provisions related to the administration of the Consumer Financial Protection Bureau (CFPB), including establishing requirements for staffing levels, political appointees, and the publication of consumer complaints regarding consumer financial products or services.
The bill specifically states the duties of the Office of Fair Lending and Equal Opportunity (under current law, these are delegated by the CFPB Director). It also adds the duty to implement enforcement and supervisory authority regarding the fair lending laws.
Specified units, offices, and boards of the CFPB must perform their assigned duties and may not be renamed or reorganized.
The bill amends all statutory references to the "Bureau of Consumer Financial Protection" to refer instead to the "Consumer Financial Protection Bureau."
Membership and meeting requirements for the Consumer Advisory Board are also revised.