Bureau of Consumer Financial Protection Commission Act
Sponsored By: Representative Huizenga
Introduced
Summary
Would convert the Bureau of Consumer Financial Protection into an independent agency run by a five‑member Commission. The bill would replace the single Director model with a Commission structure and rewrite references, terms, quorum rules, and pay levels to match the new governance.
Show full summary
- Consumers and households: The Commission would have authority to prescribe regulations and issue orders to carry out consumer financial laws, shifting rulemaking and enforcement to a multi‑member body.
- Financial firms and state regulators: Commissioners must be presidentially appointed and Senate confirmed, with at least 2 members having private‑sector consumer finance experience and at least 1 having served as a State bank supervisor. The bill also bars more than 3 Commissioners from the same political party.
- Agency operations and leadership: The Chair becomes the principal executive officer responsible for personnel, work distribution, and spending and must get Commission approval for appropriation requests. The bill sets staggered initial terms of 1–5 years, later 5‑year terms, names the prior Director as initial Chair until five members are appointed, and sets pay at Executive Schedule levels I and II.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Consumer bureau would be independent of Federal Reserve
This bill would make the Bureau an independent agency, removing language that tied it to the Federal Reserve System. The Commission would issue rules and orders for the laws the Bureau enforces. Many laws would be updated so references to the Bureau’s “Director” point to the Commission or to the Bureau, with a specified exception. The section on working with the Federal Reserve Board would be renamed, and older autonomy and coordination text would be removed. The Bureau would also have an official seal.
Five-member commission to run consumer bureau
This bill would replace the single Director with a five‑member Commission for the consumer finance Bureau. The President would appoint the five members, and the Senate would confirm them. The person who was Director the day before enactment would serve as the first member and Chair until all five are appointed, then the President would choose a Chair from the five. No more than three members could be from one party. At least half the members would need private‑sector consumer finance experience (at least two), and at least one must have served as a State bank supervisor. Initial terms would be 1, 2, 3, 4, and 5 years; after that, all terms would be five years. Members could stay up to one year after a term ends until a successor is confirmed, and any replacement would serve only the remainder of the term. For six months after enactment, the first Chair alone could act as a quorum; later, three members would be a quorum, with limited two‑member quorums during vacancies. The Chair would run daily operations, manage staff and spending, and would need Commission approval before requesting budget funds. The President could remove a member for inefficiency, neglect of duty, or malfeasance. Commissioners could not hold any other job while serving. Pay would track the Executive Schedule: the Chair at Level I and the other members at Level II.
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Sponsors & CoSponsors
Sponsor
Huizenga
MI • R
Cosponsors
Barr
KY • R
Sponsored 5/15/2025
Rep. Meuser, Daniel [R-PA-9]
PA • R
Sponsored 5/15/2025
Fitzgerald
WI • R
Sponsored 5/15/2025
Rose
TN • R
Sponsored 5/15/2025
Moore (NC)
NC • R
Sponsored 5/15/2025
Timmons
SC • R
Sponsored 5/15/2025
Rep. Williams, Roger [R-TX-25]
TX • R
Sponsored 6/12/2025
Loudermilk
GA • R
Sponsored 11/19/2025
Buchanan
FL • R
Sponsored 11/19/2025
Mann
KS • R
Sponsored 4/9/2026
Roll Call Votes
No roll call votes available for this bill.
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