```

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 4521 Introduced in Senate (IS)]

<DOC>

118th CONGRESS
  2d Session
                                S. 4521

 To amend the Consumer Financial Protection Act of 2010 to subject the 
 Bureau of Consumer Financial Protection to the regular appropriations 
                    process, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 12, 2024

 Mr. Hagerty (for himself, Mr. Scott of South Carolina, Mr. Crapo, Mr. 
   Rounds, Mr. Tillis, Mr. Kennedy, Ms. Lummis, Mrs. Britt, and Mr. 
    Cramer) 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 subject the 
 Bureau of Consumer Financial Protection to the regular appropriations 
                    process, and for other purposes.

    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 ``Consumer Financial Protection Bureau 
Accountability Act of 2024''.

SEC. 2. SUBJECTING THE BUREAU OF CONSUMER FINANCIAL PROTECTION TO THE 
              REGULAR APPROPRIATIONS PROCESS.

    (a) In General.--Section 1017 of the Consumer Financial Protection 
Act of 2010 (12 U.S.C. 5497) is amended--
            (1) in subsection (a)--
                    (A) in the subsection heading, by striking 
                ``Transfer of Funds From Board Of Governors.--'' and 
                inserting ``Budget and Financial Management.--'';
                    (B) by striking paragraphs (1) through (3);
                    (C) by redesignating paragraphs (4) and (5) as 
                paragraphs (1) and (2), respectively; and
                    (D) in paragraph (1), as so redesignated--
                            (i) in the paragraph heading, by striking 
                        ``Budget and financial management.--'' and 
                        inserting ``In general.--'';
                            (ii) by striking subparagraph (E); and
                            (iii) by redesignating subparagraph (F) as 
                        subparagraph (E);
            (2) by striking subsections (b) and (c);
            (3) by redesignating subsections (d) and (e) as subsections 
        (b) and (c), respectively;
            (4) in subsection (b), as so redesignated--
                    (A) in paragraph (2)--
                            (i) in the first sentence, by inserting 
                        ``direct'' before ``victims''; and
                            (ii) by striking the second sentence; and
                    (B) by adding at the end the following:
            ``(3) Treatment of excess amounts.--If, after the Bureau 
        obtains a civil penalty in a judicial or administrative action 
        under Federal consumer financial laws, deposits that civil 
        penalty into the Civil Penalty Fund under paragraph (1), and, 
        under paragraph (2), makes payments to all of the direct 
        victims of activities for which that civil penalty was imposed, 
        amounts remain in the Civil Penalty Fund with respect to that 
        civil penalty, the Bureau shall transfer those excess amounts 
        to the general fund of the Treasury.''; and
            (5) in subsection (c), as so redesignated--
                    (A) by striking paragraphs (1) through (3) and 
                inserting the following:
            ``(1) Authorization of appropriations.--There is authorized 
        to be appropriated such funds as may be necessary to carry out 
        this title for fiscal year 2026.''; and
                    (B) by redesignating paragraph (4) as paragraph 
                (2).
    (b) Effective Date.--The amendments made by this section shall take 
effect on October 1, 2025.
                                 <all>
```