Bill Details
HR.814 - 119th Congress
Status
Latest action
2025-01-28 - Referred to the House Committee on Financial Services.
Introduced Date
2025-01-28
Policy Area
Finance and Financial Sector
Committees
View committees (1)
Sponsors
Cosponsors
8
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would change the rules for funding the Consumer Financial Protection Bureau, also known as the CFPB, by setting the amount its director may request for the bureau’s work at $0. In simple terms, it would stop the bureau from asking Congress for money to operate. The bill is meant to sharply limit, and effectively cut off, the CFPB’s funding under current law.
- It changes the Consumer Financial Protection Act of 2010, which currently lets the CFPB director request funding based on the bureau’s needs.
- The bill replaces that language with a rule saying the requested amount “shall be not more than $0.”
- It also removes other parts of the law tied to how that funding request is calculated and updates the numbering of the remaining sections.
Official Summaries
Defund the CFPB Act
This bill caps funding of the Consumer Financial Protection Bureau at $0.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 814 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 814
To amend the Consumer Financial Protection Act of 2010 to limit to $0
the amount that the Director of the Bureau of Consumer Financial
Protection may request to fund the activities of the Bureau.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 28, 2025
Mr. Self (for himself, Mr. Weber of Texas, Mr. Donalds, Mr. Grothman,
Mr. Tiffany, and Mr. Pfluger) introduced the following bill; which was
referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To amend the Consumer Financial Protection Act of 2010 to limit to $0
the amount that the Director of the Bureau of Consumer Financial
Protection may request to fund the activities of the Bureau.
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 ``Defund the CFPB Act''.
SEC. 2. LIMITING FUNDING OF BUREAU OF CONSUMER FINANCIAL PROTECTION.
Section 1017(a) of the Consumer Financial Protection Act of 2010
(12 U.S.C. 5497(a)) is amended--
(1) in paragraph (1), by striking ``taking into account''
and all that follows through the period at the end and
inserting ``which shall be not more than $0.'';
(2) by striking paragraphs (2) and (3); and
(3) by redesignating paragraphs (4) and (5) as paragraphs
(2) and (3), respectively.
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