Sec. 1. Funding for Bureau of Consumer Financial Protection
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Section 1017 ( 12 U.S.C. 5497 ) of the Consumer Financial Protection Act of 2010 is amended— in subsection (a)— by striking paragraphs
(1)through (3); and by redesignating paragraphs
(4)and
(5)as paragraphs
(1)and (2), respectively; in subsection (b)— by striking paragraph (2); and by redesignating paragraph
(3)as paragraph (2); in subsection (c)(1)— in the first sentence, by striking , and shall remain available until expended, ; and by inserting Any funds not expended by the Bureau shall be deposited into the general fund of the Treasury. after responsibilities. ; and by striking subsection
(d)and inserting the following: There is established in the Federal Reserve a separate fund, to be known as the Consumer Financial Civil Penalty Fund (referred to in this section as the Civil Penalty Fund ). The Civil Penalty Fund shall be maintained and established at a Federal reserve bank, in accordance with such requirements as the Board of Governors may impose. If the Bureau obtains a civil penalty against any person in any judicial or administrative action under Federal consumer financial laws, the Bureau shall deposit into the Civil Penalty Fund, the amount of the penalty collected. Amounts in the Civil Penalty Fund shall be deposited into the general fund of the Treasury. .
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Sec. 1
Funding for Bureau of Consumer Financial Protection
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