H.R. 1266: Financial Product Safety Commission Act of 2015

114th Congress · introduced 2015-03-04 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 682.

federal

Follow this bill, step by step

Where it came from: introduced 2015-03-04 · official record
Who proposed it: Rep. Neugebauer, Randy [R-TX-19] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Placed on the Union Calendar, Calendar No. 682. Not final yet: this can still change. We check for updates every day.
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

Financial Product Safety Commission Act of 2015

Plain summary

Financial Product Safety Commission Act of 2015 This bill amends the Consumer Financial Protection Act of 2010 to remove the Consumer Financial Protection Bureau from the Federal Reserve System and instead establish an independent Financial Product Safety Commission (FPSC) to regulate the offering and provision of consumer financial products or services. The FPSC shall be composed of five members serving staggered five-year terms who are appointed by the President with the advice and consent of the Senate. Not more than three members shall be of any one political party. The President must appoint a chair of the FPSC from among its members. The bill prohibits the chair from submitting requests for estimates related to appropriations without prior commission approval.

Congressional Research Service summary (Reported to House with amendment(s)), 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

Financial Product Safety Commission Act of 2015

Source: Congressional Research Service summary (Reported to House with amendment(s))

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The strongest published arguments

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

Officials and money

Sponsor: Rep. Neugebauer, Randy [R-TX-19] · 52 cosponsors

Cost estimate: CBO cost estimate: H.R. 1266, Financial Product Safety Commission Act of 2015 (2016-02-11)

Cosponsors on this site

Bill Huizenga (R-MI), David Schweikert (R-AZ), Roger Williams (R-TX), Ann Wagner (R-MO), Andy Barr (R-KY), J. French Hill (R-AR), Michael T. McCaul (R-TX), Randy K. Weber, Sr. (R-TX), John R. Carter (R-TX), Pete Sessions (R-TX), Brian Babin (R-TX), Kevin Cramer (R-ND), Tom Emmer (R-MN), Bruce Westerman (R-AR), Ryan K. Zinke (R-MT)

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.

Words on this page, explained (2)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Reported to House with amendment(s))
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr1266.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr1266 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114