A bill to amend the Consumer Financial Protection Act of 2010 to provide procedures for guidance issued by the Bureau of Consumer Financial Protection, and for other purposes.
About This Bill
Committee
Latest Action · September 24, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Give Useful Information to Define Effective Compliance Act or the GUIDE Compliance Act
This bill sets forth procedures for the issuance of guidance from the Consumer Financial Protection Bureau. Guidance includes written interpretive rules, bulletins, statements of policy, and other generally applicable authoritative documents that are not regulatory actions. The bureau must publish
the types of guidance it will provide, the criteria used for selecting the type of guidance, the process for requests for guidance, the process for amending or revoking guidance, and guidelines for determining civil monetary penalties for a violation of consumer financial law.
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