The U.S. House of Representatives has passed the Consumer Financial Freedom and Washington Accountability Act, HR 3193, on a vote of 232 to 182. The bill was debated on Feb. 27.
The Republican-backed bill, sponsored by Rep. Sean Duffy, R-Wis., was introduced in the House in September 2013. It contains the text of several bills that were reported by the Financial Services Committee in November 2013, including HR 2385, HR 2446, HR 2571, HR 3193 and HR 3519.
Republicans have been trying to restructure the Consumer Financial Protection Bureau since before it opened its doors in July 2011. There have been other bills introduced in the house seeking similar changes, but none have been passed into law.
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