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119-hr-814119th CongressWALLET

Defund the CFPB Act

Sponsored By: Representative Self, Keith [R-TX-3]

Introduced

Summary

Eliminates the Consumer Financial Protection Bureau’s authority to fund its operations under 12 U.S.C. 5497(a). This bill would cap the amount the Bureau Director may request at $0 and remove two related statutory paragraphs, with no alternative funding mechanism, phase-in, or sunset. The net legal effect is that the Director may not request funds under that specific statutory authority, which would constrain the Bureau’s ability to finance its activities under the law. The bill contains no other program, requirement, or penalty changes.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Cut Consumer Bureau funding to $0

If enacted, this bill would limit the Consumer Financial Protection Bureau director's annual funding request to not more than $0. It would strike two paragraphs in the current funding statute and redesignate others. The bill provides no new funding source, no phase-in, and no sunset. If passed, this could effectively stop most CFPB enforcement and reduce consumer help for borrowers, households, and small businesses.

Sponsors & CoSponsors

Sponsor

Self, Keith [R-TX-3]

TX • R

Cosponsors

  • Rep. Weber, Randy K. Sr. [R-TX-14]

    TX • R

    Sponsored 1/28/2025

  • Rep. Donalds, Byron [R-FL-19]

    FL • R

    Sponsored 1/28/2025

  • Rep. Grothman, Glenn [R-WI-6]

    WI • R

    Sponsored 1/28/2025

  • Rep. Tiffany, Thomas P. [R-WI-7]

    WI • R

    Sponsored 1/28/2025

  • Rep. Pfluger, August [R-TX-11]

    TX • R

    Sponsored 1/28/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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