As ordered reported by the House Committee on Financial Services on November 21, 2013
H.R. 3193 would amend the statute that authorizes the Financial Stability Oversight Council (FSOC) to delay implementation or set aside final regulations developed by the Consumer Financial Protection Bureau (CFPB). The bill also would require the CFPB, when developing a new rule, to consider the impact of the rule on the financial soundness of an insured depository institution.
CBO estimates that enacting H.R. 3193 would increase direct spending by $5 million over the 2014-2024 period; therefore, pay-as-you-go procedures apply. CBO estimates that enacting H.R. 3193 would not have a significant effect on revenues and implementing the bill would not affect discretionary costs.
H.R. 3193 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.