Protecting American Consumers Act
Sponsored By: Senator Warren, Elizabeth [D-MA]
Introduced
Summary
Would create a mandatory funding floor for the Bureau of Consumer Financial Protection (CFPB). This bill would require that the amount transferred to the CFPB each fiscal year be not less than 12 percent of the Federal Reserve System’s operating expenses as reported in the Board of Governors’ 2009 Annual Report. It would also update a statutory cross-reference to reflect the change.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Minimum funding for consumer watchdog
This bill would require the Consumer Financial Protection Bureau to receive at least 12% of the Federal Reserve System's total operating expenses as reported in the Board of Governors' 2009 Annual Report each fiscal year. The rule would apply notwithstanding paragraph (1). The bill would also replace the internal cross-reference '(A)(iii)' with '(A)'. If enacted, this would create a fixed funding floor that could increase or stabilize CFPB resources and strengthen consumer protections.
Sponsors & CoSponsors
Sponsor
Warren, Elizabeth [D-MA]
MA • D
Cosponsors
Sen. Reed, Jack [D-RI]
RI • D
Sponsored 6/4/2026
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 6/4/2026
Sen. Van Hollen, Chris [D-MD]
MD • D
Sponsored 6/4/2026
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 6/4/2026
Sen. Smith, Tina [D-MN]
MN • D
Sponsored 6/4/2026
Raphael Warnock
GA • D
Sponsored 6/4/2026
Sen. Kim, Andy [D-NJ]
NJ • D
Sponsored 6/4/2026
Sen. Gallego, Ruben [D-AZ]
AZ • D
Sponsored 6/4/2026
Sen. Blunt Rochester, Lisa [D-DE]
DE • D
Sponsored 6/4/2026
Sen. Alsobrooks, Angela D. [D-MD]
MD • D
Sponsored 6/4/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov