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Defund the CFPB Act (HR-814) · Congress.wiki

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Text as it was Introduced in House

January 28, 2025

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January 28, 2025 (1 year ago)

Referred to the House Committee on Financial Services.

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United StatesHouse Bill 814HR 814

Defund the CFPB Act

Finance and Financial Sector

house
senate
president

Introduced January 28, 2025 by Keith Self · Last progress 1 year ago

AI Summary

Texassenator·Rafael Edward Cruz

Finance and Financial Sector

Defund the CFPB Act

senate
house
president

6 cosponsors·Updated 1 day ago·Last progress January 29, 2025

This bill would cut off all funding to the Consumer Financial Protection Bureau by changing the law so the Bureau can only request $0 to fund its activities. In short, it would defund the agency by amending Section 1017(a) of the Consumer Financial Protection Act and removing related funding language. A summary from the Library of Congress confirms the bill “caps funding of the Consumer Financial Protection Bureau at $0”.

Key points:

Who is affected: The Consumer Financial Protection Bureau and anyone who depends on its funded activities.
What changes: The Bureau’s allowable funding request is set to $0, and certain funding paragraphs in the law are removed.
When: This would apply if the bill is passed into law.