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H.R. 4662: Bureau Advisory Opinion Act

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H.R. 4662: Bureau Advisory Opinion Act

113th Congress · introduced 2014-05-15 · Finance and Financial Sector · Latest: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2014-05-15 · official record
  2. Who proposed it: Rep. Posey, Bill [R-FL-8] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Bureau Advisory Opinion Act

Plain summary

Bureau Advisory Opinion Act - Amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to: (1) establish a procedure to respond to specific inquiries by a covered person concerning conformance of prospective conduct with federal consumer financial law, and (2) issue an opinion in response to the inquiry within 90 days (with a single allowable extension of another 45 days). (A "covered person" under the Act is: (1) any person that engages in offering or providing a consumer financial product or service, and (2) any affiliate of that person if the affiliate acts as a service provider to the person.) Creates a rebuttable presumption in any action brought under federal consumer financial law that any conduct for which the Director has issued an opinion that it is in conformity with the opinion is indeed in compliance with federal consumer financial law. Exempts such inquiries and advisory opinions from disclosure under the Freedom of Information Act.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Bureau Advisory Opinion Act

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Posey, Bill [R-FL-8] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ann Wagner (R-MO)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong113-hr4662 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113