H.R. 5527: CFPB Rule Accountability Act of 2016

114th Congress · introduced 2016-06-16 · Finance and Financial Sector · Latest: Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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Follow this bill, step by step

Where it came from: introduced 2016-06-16 · 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 Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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

CFPB Rule Accountability Act of 2016

Plain summary

CFPB Rule Accountability Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB), before any federal agency rule may take effect, to publish in the Federal Register a list of information on which the rule is based, including data, scientific and economic studies, and cost-benefit analyses, identify how the public can access such information online, and report to Congress and to the Government Accountability Office a classification of the rule as a major or nonmajor rule. Congress must enact a joint resolution of approval of major rules before they may take effect. If a joint resolution of approval is not enacted by the end of 70 session days or legislative days, as applicable, after the CFPB reports on the rule to Congress, the major rule shall be deemed not to be approved and shall not take effect. A major rule may take effect, however, for one 90-calendar day period without such approval if the President determines it is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement. The bill prescribes the congressional approval procedure for major rules and the congressional disapproval procedure for nonmajor rules. A joint resolution addressing a report classifying a rule as a major rule must be introduced within three legislative days in the House of Representative and three session days in the Senate. No amendments to such a joint resolution shall be permitted at any stage of the legislative process. The bill prescribes a procedure for expedited consideration of a joint resolution of approval, requiring a vote on the resolution in the Senate within 15 session days after it is reported by the committee to which it was referred, or after the committee has been discharged from further consideration of it. A court may review whether an agency has completed the necessary requirements under this bill for a rule to take effect. No determination, finding, action, or omission under this bill shall be subject to judicial review. The Balanced Budget and Emergency Deficit Control Act of 1985 is amended to provide that any congressional approval procedure set forth in this bill affecting budget authority, outlays, or receipts shall be assumed to be effective unless it is not approved in accordance with this Act.

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

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A “Nay” vote

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

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What does this mean? (plain words)

Official text

CFPB Rule Accountability Act of 2016

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] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Andy Barr (R-KY)

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 (6)

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).
Federal Register: The official daily publication of the U.S. government for agency rules, proposed rules, public notices and presidential documents.
Joint resolution: In Texas, the type of measure the Legislature uses to propose a constitutional amendment (marked HJR or SJR). The governor does not sign or veto it; the voters decide. In Congress a joint resolution can also be used like a bill. In Florida, a joint resolution passed by three-fifths of the members of each chamber puts a constitutional amendment on the ballot.
Resolution: A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.
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.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

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-114hr5527.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr5527 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114