PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Dec 4, 2023
Encouraging Innovation and Protecting Consumers Act
This bill (1) ends the Office of Competition and Innovation within the Consumer Financial Protection Bureau (CFPB), and (2) restores the Office of Innovation at the CFPB. The Office of Competition and Innovation replaced the Office of Innovation in 2022. The original Office of Innovation was established in 2018.
The restored Office of Innovation must reestablish the compliance assistance sandbox policy (providing a safe harbor from certain liability laws while an approved financial product or service is in a testing phase) and the no action letter policy (ensuring no supervisory or enforcement action against an approved financial product or service in certain circumstances).
People & committees
Rep. Timmons, William R. IV [R-SC-4] · R–SC
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: May 27, 2025. Consult Congress.gov for the current record.
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