Representative Maxine Waters, a Democrat from California and ranking member of the House Financial Services Committee. Photographer: Andrew Harrer/Bloomberg
The House next month may consider H.R. 1500, House Financial Services Chairwoman Maxine Waters's (D-Calif.) play to reverse the changes former Acting Director Mick Mulvaney made at the CFPB, House Majority Leader Steny Hoyer (D-Md.) told colleagues Thursday.
The legislation, which was approved by the committee in a party-line vote, has little chance of passing the Senate.
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The measure was included in a "Dear Colleague" letter Hoyer sent to House Democrats outlining bills the House may consider before Memorial Day.
The bill would, among other things, restrict the CFPB's director's power to reorganize the bureau, limit the hiring of political appointees, ensure that the agency's consumer database remain public and ensure that agency's advisory boards play a significant role in agency policymaking.
Since Republicans control the Senate, it is unlikely that it will even consider the Waters bill.
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