This story appeared in Bank Digest.
House began debate on April 21, 2015, on a bill that would require the director of the Consumer Financial Protection Bureau to establish a Community Bank Advisory Council, a Credit Union Advisory Council, and a Small Business Advisory Board to advise and consult with the CFPB. The measure, as written and passed by the House Financial Services Committee, was supported by both Democrats and Republicans, but a recent amendment by Committee Chair Jeb Hensarling (R-Texas) has sparked debate, and the bipartisan bill now has become a subject of controversy. The House approved H.R. 1195 by a vote of 235 to 183 on April 22, 2015.