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H. Rept. 115-1095 1 (2018-12-21)

handle is hein.congrecreports/crptxaccd0001 and id is 1 raw text is: AUT-ENTICATED U.S.GOVERNMENT INFORMATION O 115TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 115-1095 GIVE USEFUL INFORMATION TO DEFINE EFFECTIVE COMPLIANCE ACT DECEMBER 21, 2018.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 5534] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 5534) 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, having con- sidered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Give Useful Information to Define Effective Compli- ance Act or the GUIDE Compliance Act. SEC. 2. PROCEDURES FOR BUREAU GUIDANCE. Section 1022(b) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5512(b)) is amended by adding at the end the following: (5) PROCEDURES FOR BUREAU GUIDANCE.- (A) DEFINITIONs.-In this paragraph- (i) the term 'Bureau' means- (I) the Director of the Bureau; (II) the Deputy Director of the Bureau; and (III) any employee of the Bureau described in section 1013(a)(1)(B); and (ii) the term'guidance'- (I) means- 89-006