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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.
Summary
This bill amends the Consumer Financial Protection Act of 2010 to limit the Director of the Consumer Financial Protection Bureau (CFPB) to requesting zero dollars in annual funding. The amendment replaces the existing funding authorization language with a strict cap of $0, eliminating any authority for the agency to request or receive funding from the method established under current law. This would effectively prevent the CFPB from operating under its current funding mechanism.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Self, Keith [R-TX-3] (R-TX)
5 cosponsors
Actions (2)
- Jan 28, 2025 Referred to the House Committee on Financial Services. · house
- Jan 28, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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. <all>
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