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Defund the CFPB Act

USA119th CongressS-303| Senate 
| Updated: 1/29/2025
Ted Cruz

Ted Cruz

Republican Senator

Texas

Cosponsors (6)
Rick Scott (Republican)Mike Lee (Republican)Marsha Blackburn (Republican)Mike Rounds (Republican)John Barrasso (Republican)Steve Daines (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Jan 28, 2025

Latest Companion Bill Action

HR 119-814
Introduced in House
Jan 29, 2025
Introduced in Senate
Jan 29, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • January 28, 2025

    Latest Companion Bill Action

    HR 119-814
    Introduced in House


  • January 29, 2025
    Introduced in Senate


  • January 29, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Related Bills

  • HR 119-814: Defund the CFPB Act

Defund the CFPB Act

USA119th CongressS-303| Senate 
| Updated: 1/29/2025
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 28, 2025

Latest Companion Bill Action

HR 119-814
Introduced in House
Jan 29, 2025
Introduced in Senate
Jan 29, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • January 28, 2025

    Latest Companion Bill Action

    HR 119-814
    Introduced in House


  • January 29, 2025
    Introduced in Senate


  • January 29, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Ted Cruz

Ted Cruz

Republican Senator

Texas

Cosponsors (6)
Rick Scott (Republican)Mike Lee (Republican)Marsha Blackburn (Republican)Mike Rounds (Republican)John Barrasso (Republican)Steve Daines (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 119-814: Defund the CFPB Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted