II 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Consumer Financial 

5 Protection Bureau Accountability Act of 2024’’. 


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•S 4521 IS

1 SEC. 2. SUBJECTING THE BUREAU OF CONSUMER FINAN2 CIAL PROTECTION TO THE REGULAR APPRO3 PRIATIONS PROCESS. 

4 (a) IN GENERAL.—Section 1017 of the Consumer Fi5 nancial Protection Act of 2010 (12 U.S.C. 5497) is 

6 amended— 

7 (1) in subsection (a)— 

8 (A) in the subsection heading, by striking 

9 ‘‘TRANSFER OF FUNDS FROM BOARD OF GOV10 ERNORS.—’’ and inserting ‘‘BUDGET AND FI11 NANCIAL MANAGEMENT.—’’; 

12 (B) by striking paragraphs (1) through 

13 (3); 

14 (C) by redesignating paragraphs (4) and 

15 (5) as paragraphs (1) and (2), respectively; and 

16 (D) in paragraph (1), as so redesignated— 

17 (i) in the paragraph heading, by strik18 ing ‘‘BUDGET AND FINANCIAL MANAGE19 MENT.—’’ and inserting ‘‘IN GENERAL.—’’; 

20 (ii) by striking subparagraph (E); and 

21 (iii) by redesignating subparagraph 

22 (F) as subparagraph (E); 

23 (2) by striking subsections (b) and (c); 

24 (3) by redesignating subsections (d) and (e) as 

25 subsections (b) and (c), respectively; 

26 (4) in subsection (b), as so redesignated— 


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•S 4521 IS

1 (A) in paragraph (2)— 

2 (i) in the first sentence, by inserting 

3 ‘‘direct’’ before ‘‘victims’’; and 

4 (ii) by striking the second sentence; 

5 and 

6 (B) by adding at the end the following: 

7 ‘‘(3) TREATMENT OF EXCESS AMOUNTS.—If, 

8 after the Bureau obtains a civil penalty in a judicial 

9 or administrative action under Federal consumer fi10 nancial laws, deposits that civil penalty into the Civil 

11 Penalty Fund under paragraph (1), and, under 

12 paragraph (2), makes payments to all of the direct 

13 victims of activities for which that civil penalty was 

14 imposed, amounts remain in the Civil Penalty Fund 

15 with respect to that civil penalty, the Bureau shall 

16 transfer those excess amounts to the general fund of 

17 the Treasury.’’; and 

18 (5) in subsection (c), as so redesignated— 

19 (A) by striking paragraphs (1) through (3) 

20 and inserting the following: 

21 ‘‘(1) AUTHORIZATION OF APPROPRIATIONS.— 

22 There is authorized to be appropriated such funds as 

23 may be necessary to carry out this title for fiscal 

24 year 2026.’’; and 


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•S 4521 IS

1 (B) by redesignating paragraph (4) as 

2 paragraph (2). 

3 (b) EFFECTIVE DATE.—The amendments made by 

4 this section shall take effect on October 1, 2025. 

Æ 


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