CONGRESS FOR VOTERS

Elizabeth Warren (D-MA)

S.Amdt. 2342

S.Amdt. 2342 · Senate amendment

A Democratic amendment with 3 Democratic cosponsors · See all 3 cosponsors

Changes S. 1582 — GENIUS Act

Not adopted

This amendment was never taken up, and the bill finished without it. It was never voted on.

Its path through Congress

  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

This amendment would add a clause to the bill regarding the regulation of payment stablecoins.

The amendment ensures that the authority given to Federal or State stablecoin regulators does not limit or reduce the power of the Director of the Consumer Financial Protection Bureau to enforce Federal consumer financial laws.

It states that the Consumer Financial Protection Bureau has jurisdiction, meaning legal authority, over permitted payment stablecoin issuers to enforce consumer financial laws under its purview.

All consumer protection provisions listed under the Consumer Financial Protection Act of 2010 are applicable to payment stablecoins.