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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 would amend the Consumer Financial Protection Act to eliminate funding for the Consumer Financial Protection Bureau by setting the maximum amount the Bureau's Director can request to $0. The amendment removes the existing funding authorization provisions and replaces them with a provision explicitly limiting the Director's funding request authority to zero dollars. If enacted, this would prevent the CFPB from requesting any federal funds for its operations.
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)
- Sen. Cruz, Ted [R-TX] (R-TX)
6 cosponsors
- Sen. Barrasso, John [R-WY] (R-WY)
- Sen. Blackburn, Marsha [R-TN] (R-TN)
- Sen. Daines, Steve [R-MT] (R-MT)
- Sen. Lee, Mike [R-UT] (R-UT)
- Sen. Rounds, Mike [R-SD] (R-SD)
- Sen. Scott, Rick [R-FL] (R-FL)
Money behind the sponsor
Top reported contributors to Ted Cruz’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $4,424,745
- ENTREPRENEUR $458,096
- RDV CORPORATION $39,600
- AMERICAN AIRLINES $29,632
- BLACKSTONE $27,400
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Ted Cruz → · Outside spending →
Actions (2)
- Jan 29, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jan 29, 2025 Introduced in Senate
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 SENATE OF THE UNITED STATES
January 29, 2025
Mr. Cruz (for himself, Mr. Barrasso, Mr. Scott of Florida, Mr. Daines, Mrs. Blackburn, Mr. Rounds, and Mr. Lee) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
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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