Bill Details
HR.1603 - 119th Congress
Status
Latest action
2025-02-26 - Referred to the House Committee on Financial Services.
Introduced Date
2025-02-26
Policy Area
Finance and Financial Sector
Committees
View committees (1)
Sponsors
Cosponsors
6
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would shut down the Consumer Financial Protection Bureau by repealing the 2010 law that created it. If it became law, the agency would no longer exist, and the older laws that were changed by that 2010 law would be put back in place as if the law had never been passed.
- It ends the Consumer Financial Protection Act of 2010, which is the law that created the bureau.
- Any laws that were changed or replaced by that act would be restored to their earlier form.
- The bill is a very direct repeal and does not add a replacement agency or new consumer protection rules.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1603 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 1603
To eliminate the Bureau of Consumer Financial Protection.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 26, 2025
Mr. Donalds (for himself, Mr. Ogles, Mr. Norman, and Mr. McCormick)
introduced the following bill; which was referred to the Committee on
Financial Services
_______________________________________________________________________
A BILL
To eliminate the Bureau of Consumer Financial Protection.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Repeal CFPB Act''.
SEC. 2. REPEAL.
The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et
seq.) is repealed, and the provisions of law amended or repealed by
that Act are restored or revived as if the Act had not been enacted.
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