H.R. 3048: Community Financial Institution Exemption Act

114th Congress · introduced 2015-07-14 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2015-07-14 · official record
Who proposed it: Rep. Williams, Roger [R-TX-25] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. 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

Community Financial Institution Exemption Act

Plain summary

Community Financial Institution Exemption Act Amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau. Defines a "community financial institution" as an insured depository institution or credit union with less than $10 billion in consolidated assets. Authorizes the Bureau to: (1) revoke such an exemption with respect to a specific rule or regulation issued or modified after enactment of this Act and with respect to a specific class of community financial institutions if the Bureau finds that such class of institutions has engaged in a pattern or practice of activities that have been detrimental to the interests of consumers and that are of a type that the specific rule or regulation is intended to address, and (2) modify a rule or regulation issued before enactment of this Act with respect to such institutions if the effect of such modification is to expand a current exemption or to reduce the costs and the regulatory burden associated with complying with such rule or regulation.

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

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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

Community Financial Institution Exemption Act

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Williams, Roger [R-TX-25] · 46 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Frank D. Lucas (R-OK), J. French Hill (R-AR), Tom Cole (R-OK), Andy Barr (R-KY), Glenn Grothman (R-WI), Henry Cuellar (D-TX), Randy K. Weber, Sr. (R-TX), Bruce Westerman (R-AR), Pete Sessions (R-TX), Brian Babin (R-TX), John R. Carter (R-TX), Tom Emmer (R-MN), Eric A. "Rick" Crawford (R-AR), Steve Womack (R-AR)

Sponsor's campaign money: Rep. Williams, Roger [R-TX-25] reported raising $1.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr3048.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr3048 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114