Defund the CFPB Act

This proposed legislation, known as the "Defund the CFPB Act," aims to significantly alter the funding structure of the Bureau of Consumer Financial Protection (CFPB). Its primary objective is to amend the Consumer Financial Protection Act of 2010 to prevent the CFPB Director from requesting any funds for the Bureau's operations. The bill achieves this by modifying Section 1017(a) of the original Act, specifically striking language related to funding requests and inserting a new provision that mandates the requested amount shall be "not more than $0." Furthermore, it eliminates existing paragraphs (2) and (3) of that section, which pertain to the Bureau's funding mechanism, thereby effectively cutting off all financial resources for the agency's activities.