I 119th CONGRESS 1st Session H. R. 654 IN THE HOUSE OF REPRESENTATIVES January 23, 2025 Mr. Barr introduced the following bill; which was referred to the Committee on Financial Services A BILL To change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes.

1. Short title This Act may be cited as the Taking Account of Bureaucrats’ Spending Act of 2025 or the TABS Act of 2025 . 2. Consumer Financial Empowerment Agency (a) Making the Bureau an independent Consumer Financial Empowerment Agency The Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 et seq. ) is amended— (1) in section 1011— (A) in the heading of such section, by striking BUREAU OF CONSUMER FINANCIAL PROTECTION and inserting Consumer Financial Empowerment Agency ; (B) in subsection (a)— (i) in the heading of such subsection, by striking Bureau and inserting Agency ; (ii) by striking in the Federal Reserve System, ; (iii) by striking independent bureau and inserting independent agency ; and (iv) by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency (hereinafter in this section referred to as the Agency ) ; (C) in subsection (b)(5), by amending subparagraph (A) to read as follows: (A) shall be appointed by the President; and ; (D) in subsection (c), by striking paragraph (3); (E) in subsection (e), by striking , including in cities in which the Federal reserve banks, or branches of such banks, are located, ; and (F) by striking Bureau each place such term appears and inserting Agency ; and (2) in section 1012— (A) in subsection (a)(10), by striking examinations, ; and (B) by striking subsection (c). (b) Deeming of name Any reference in a law, regulation, document, paper, or other record of the United States to the Bureau of Consumer Financial Protection shall be deemed a reference to the Consumer Financial Empowerment Agency. (c) Conforming amendments (1) Dodd-Frank Wall Street Reform and Consumer Protection Act The Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5301 et seq. ) is amended— (A) in the table of contents in section 1(b)— (i) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; and (ii) in the table of contents relating to title X, in the items relating to subtitle B, subtitle C, and section 1027, by striking Bureau each place such term appears and inserting Agency ; (B) in section 2, by amending paragraph (4) to read as follows: (4) Agency The term Agency means the Consumer Financial Empowerment Agency established under title X. ; (C) in section 342 by striking Bureau each place such term appears in headings and text and inserting Agency ; (D) in section 1400(b)— (i) by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; and (ii) in the subsection heading, by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; (E) in section 1411(a)(1), by striking Bureau and inserting Agency ; and (F) in section 1447, by striking Director of the Bureau each place such term appears and inserting Director of the Consumer Financial Empowerment Agency . (2) Alternative Mortgage Transaction Parity Act of 1982 The Alternative Mortgage Transaction Parity Act of 1982 ( 12 U.S.C. 3801 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; and (B) in the subsection heading of subsection (d) of section 804 ( 12 U.S.C. 3803(d) ), by striking Bureau and inserting Agency . (3) Electronic Fund Transfer Act The Electronic Fund Transfer Act ( 15 U.S.C. 1693 et seq. ) is amended— (A) by amending the second paragraph (4) (defining the term Bureau ) to read as follows: (4) the term Agency means the Consumer Financial Empowerment Agency; ; (B) in section 916(d)(1), by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; and (C) by striking Bureau each place that term appears in heading or text and inserting Agency . (4) Equal Credit Opportunity Act The Equal Credit Opportunity Act ( 15 U.S.C. 1691 et seq. ) is amended— (A) in section 702 ( 15 U.S.C. 1691a ), by amending subsection (c) to read as follows: (c) The term Agency means the Consumer Financial Empowerment Agency. ; and (B) by striking Bureau each place that term appears in heading or text and inserting Agency . (5) Expedited Funds Availability Act The Expedited Funds Availability Act ( 12 U.S.C. 4001 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; and (B) in the heading of section 605(f)(1), by striking board and bureau and inserting Board and Agency . (6) Fair and Accurate Credit Transactions Act of 2003 The Fair and Accurate Credit Transactions Act of 2003 ( Public Law 108–159 ) is amended by striking Bureau each place such term appears in heading and text and inserting Agency . (7) Fair Credit Reporting Act The Fair Credit Reporting Act ( 15 U.S.C. 1681 et seq. ) is amended— (A) by amending section 603(w) to read as follows: (w) Agency The term Agency means the Consumer Financial Empowerment Agency. ; and (B) by striking Bureau each place such term appears, other than in sections 626 and 603(v), and inserting Agency . (8) Fair Debt Collection Practices Act The Fair Debt Collection Practices Act ( 15 U.S.C. 1692 et seq. ) is amended— (A) by amending section 803(1) to read as follows: (1) The term Agency means the Consumer Financial Empowerment Agency. ; and (B) by striking Bureau each place such term appears in heading or text and inserting Agency . (9) Federal Deposit Insurance Act The Federal Deposit Insurance Act ( 12 U.S.C. 1811 et seq. ) is amended— (A) in the second paragraph (6) (with the heading Referral to bureau of consumer financial protection ) of section 8(t) ( 12 U.S.C. 1818(t) )— (i) in the paragraph heading, by striking bureau of consumer financial protection ; and inserting Consumer Financial Empowerment Agency ; and (ii) by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; (B) by amending clause (vi) of section 11(t)(2)(A) ( 12 U.S.C. 1821(t)(2)(A)(vi) ) to read as follows: (vi) The Consumer Financial Empowerment Agency. ; (C) in section 18(x) ( 12 U.S.C. 1828(x) ), by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (D) by striking Bureau each place such term appears and inserting Agency ; and (E) in section 43(e) ( 12 U.S.C. 1831t(e) ), by amending paragraph (5) to read as follows: (5) Agency The term Agency means the Consumer Financial Empowerment Agency. . (10) Federal Financial Institutions Examination Council Act of 1978 The Federal Financial Institutions Examination Council Act of 1978 ( 12 U.S.C. 3301 et seq. ) is amended— (A) in section 1004(a)(4), by striking Consumer Financial Protection Bureau and inserting Consumer Financial Empowerment Agency ; and (B) in section 1011, by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (11) Financial Institutions Reform, Recovery, and Enforcement Act of 1989 The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( Public Law 101–73 ; 103 Stat. 183) is amended— (A) in section 1112(b) ( 12 U.S.C. 3341 ), by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; (B) in section 1124 ( 12 U.S.C. 3353 ), by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (C) in section 1125 ( 12 U.S.C. 3354 ), by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; and (D) in section 1206(a) ( 12 U.S.C. 1833b(a) ), by striking Federal Housing Finance Board and all that follows through Farm Credit Administration and inserting Federal Housing Finance Agency, the Consumer Financial Empowerment Agency, and the Farm Credit Administration . (12) Financial Literacy and Education Improvement Act Section 513 of the Financial Literacy and Education Improvement Act ( 20 U.S.C. 9702 ) is amended by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency . (13) Gramm-leach-bliley Act Title V of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6801 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; and (B) in section 505(a)(8) ( 15 U.S.C. 6805(a)(8) ), by striking Bureau and inserting Agency . (14) Home Mortgage Disclosure Act of 1975 The Home Mortgage Disclosure Act of 1975 ( 12 U.S.C. 2801 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (B) by striking Bureau each place such term appears and inserting Agency ; and (C) in section 303, by amending paragraph (1) to read as follows: (1) the term Agency means the Consumer Financial Empowerment Agency; . (15) Homeowners Protection Act of 1998 Section 10(a)(4) of the Homeowners Protection Act of 1998 ( 12 U.S.C. 4909(a)(4) ) is amended by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (16) Home Ownership and Equity Protection Act of 1994 Section 158(a) of the Home Ownership and Equity Protection Act of 1994 ( 15 U.S.C. 1601 note) is amended by striking Bureau and inserting Consumer Financial Empowerment Agency . (17) Interstate Land Sales Full Disclosure Act The Interstate Land Sales Full Disclosure Act ( 12 U.S.C. 1701 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Agency ; (B) in section 1402, by amending paragraph (12) to read as follows: (12) Agency means the Consumer Financial Empowerment Agency. ; and (C) in section 1416, by striking Bureau each place such term appears and inserting Agency . (18) Real Estate Settlement Procedures Act of 1974 The Real Estate Settlement Procedures Act of 1974 ( 12 U.S.C. 2601 et seq. ) is amended— (A) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (B) by striking Bureau each place such term appears and inserting Agency ; and (C) in section 3, by amending paragraph (9) to read as follows: (9) the term Agency means the Consumer Financial Empowerment Agency. . (19) Revised Statues of the United States Section 5136C(b)(3)(B) of the Revised Statutes of the United States ( 12 U.S.C. 25b(b)(3)(B) ) is amended by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (20) Right to Financial Privacy Act of 1978 The Right to Financial Privacy Act of 1978 ( 12 U.S.C. 3401 et seq. ) is amended— (A) by amending subparagraph (B) of section 1101(7) ( 12 U.S.C. 3401(7)(B) ) to read as follows: (B) the Consumer Financial Empowerment Agency; ; and (B) by striking Bureau of Consumer Financial Protection each place such term appears in heading or text and inserting Consumer Financial Empowerment Agency . (21) S.A.F.E. Mortgage Licensing Act of 2008 The S.A.F.E. Mortgage Licensing Act of 2008 ( 12 U.S.C. 5101 et seq. ) is amended— (A) in section 1507, by striking Bureau, and the Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (B) by striking Bureau of Consumer Financial Protection each place such term appears and inserting Consumer Financial Empowerment Agency ; (C) by striking Bureau each place such appears, other than in sections 1505(a)(1), 1507(a)(2)(A), and 1511(b), and inserting Agency ; (D) in section 1503, by amending paragraph (1) to read as follows: (1) Agency The term Agency means the Consumer Financial Empowerment Agency. ; (E) in the heading of section 1508, by striking BUREAU OF CONSUMER FINANCIAL PROTECTION and inserting Consumer Financial Empowerment Agency ; and (F) in the heading of section 1514, by striking BUREAU and inserting AGENCY . (22) Telemarketing and Consumer Fraud and Abuse Prevention Act The Telemarketing and Consumer Fraud and Abuse Prevention Act ( 15 U.S.C. 6101 et seq. ) is amended by striking Bureau of Consumer Financial Protection each place such term appears in heading or text and inserting Consumer Financial Empowerment Agency . (23) Title 5, United States Code Title 5, United States Code, is amended— (A) in section 552a(w)— (i) in the subsection heading, by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; and (ii) by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency ; (B) in section 609(d)(2), by striking Consumer Financial Protection Bureau of the Federal Reserve System and inserting Consumer Financial Empowerment Agency ; and (C) in section 3132(a)(1)(D), by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (24) Title 10, United States Code (A) Section 987 Section 987(h)(3)(E) of title 10, United States Code, is amended by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (B) NDAA FY 2015 Section 557(a) of the Carl Levin and Howard P. Buck McKeon National Defense Authorization Act for Fiscal Year 2015 ( Public Law 113–29 ; 128 Stat. 3381; 10 U.S.C. 1144 note), is amended by striking Consumer Financial Protection Bureau each place such term appears and inserting Consumer Financial Empowerment Agency . (25) Title 44, United States Code Title 44, United States Code, is amended— (A) in section 3502(5), by striking the Bureau of Consumer Financial Protection, ; and (B) in section 3513(c), by striking Bureau of Consumer Financial Protection and inserting Consumer Financial Empowerment Agency . (26) Truth in Lending Act The Truth in Lending Act ( 15 U.S.C. 1601 et seq. ) is amended— (A) by amending section 103(b) ( 15 U.S.C. 1602(b) ) to read as follows: (b) Agency The term Agency means the Consumer Financial Empowerment Agency. ; (B) by amending section 103(c) ( 15 U.S.C. 1602(c) ) to read as follows: (c) Board The term Board means the Board of Governors of the Federal Reserve System. ; (C) in section 128(f) ( 15 U.S.C. 1638(f) ), by striking Board each place such term appears and inserting Agency ; (D) in sections 129B ( 15 U.S.C. 1639b ) and 129C ( 15 U.S.C. 1639c ), by striking Board each place such term appears and inserting Agency ; (E) in section 140A ( 15 U.S.C. 1651 ), by striking in consultation with the Bureau and inserting in consultation with the Federal Trade Commission ; (F) by striking Bureau each place such term appears in heading or text and inserting Agency ; and (G) by striking bureau and inserting Agency in the paragraph headings for— (i) section 122(d)(2) ( 15 U.S.C. 1632(d)(2) ); (ii) section 127(c)(5) ( 15 U.S.C. 1637(c)(5) ); (iii) section 127(r)(3) ( 15 U.S.C. 1637(r)(3) ); and (iv) section 127A(a)(14) ( 15 U.S.C. 1637a(a)(14) ). (27) Truth in Savings Act The Truth in Savings Act ( 12 U.S.C. 4301 et seq. ) is amended— (A) by amending paragraph (4) of section 274 ( 12 U.S.C. 4313(4) ) to read as follows: (4) Agency The term Agency means the Consumer Financial Empowerment Agency. ; (B) by striking National Credit Union Administration Bureau each place such term appears and inserting National Credit Union Administration Board ; and (C) by striking Bureau each place such term appears and inserting Agency , except in section 233(b)(4)(B). 3. Bringing the Agency into the regular appropriations process Section 1017 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497 ) is amended— (1) in subsection (a)— (A) by amending the heading of such subsection to read as follows: Budget, financial management, and audit.— ; (B) by striking paragraphs (1), (2), and (3); (C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and (D) by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated; (2) by striking subsections (b) and (c); (3) by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and (4) in subsection (c), as so redesignated— (A) by striking paragraphs (1), (2), and (3) and inserting the following: (1) Authorization of appropriations There are authorized to be appropriated such sums as may be necessary to carry out this title for each of fiscal years 2026 and 2027. ; and (B) by redesignating paragraph (4) as paragraph (2).