US H 3193 passed the House and moved to the Senate. The bill creates the Consumer Financial Protection Safety and Soundness Improvement Act of 2013, which combines six bills to drastically amend the Consumer Financial Protection Act of 2010. These amendments include strengthening the Financial Stability Oversight Council’s (FSOC) authority to review CFPB-issued regulations, replacing the bureau’s single director with a five-member bipartisan commission, limiting the bureau’s ability to collect consumer financial information, subjecting the CFPB to the appropriations process and making the CFPB a stand-alone independent agency rather than a bureau within the Federal Reserve System. The bill passed the House 232-182, with 10 Democrats voting in favor. It’s unlikely the bill will pass the Senate, but it is viewed as “message” bill to express concerns about the CFPB. More information may be found here.