Defund the CFPB Act

This legislative proposal seeks to significantly alter the funding mechanism for the Bureau of Consumer Financial Protection (CFPB) by amending the Consumer Financial Protection Act of 2010. Its primary objective is to cap the amount the CFPB Director can request for the Bureau's operational activities at zero dollars . The bill achieves this by striking specific provisions in Section 1017(a) of the Act that currently outline the process for determining and requesting funds, replacing them with the $0 limit. Additionally, it eliminates paragraphs detailing the Bureau's funding structure and renumbers subsequent sections, thereby effectively cutting off the Bureau's independent funding source.