February 7, 2014
As ordered reported by the House Committee on Financial Services on November 21, 2013
H.R. 2385 would set basic compensation rates for employees of the Bureau of Consumer Financial Protection (CFPB) according to the General Schedule (GS) for federal employees. Under current law, pay rates at the CFPB are comparable to rates paid to employees of the Federal Reserve System in corresponding job classes.
CBO estimates that enacting H.R. 2385 would reduce direct spending by $280 million over the 2014-2024 period; therefore, pay-as-you-go procedures apply. CBO estimates that enacting H.R. 2385 would not affect revenues, and implementing the bill would not affect spending subject to appropriation.
H.R. 2385 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.