Consumer Financial Protection Bureau Withdrawal Cap Adjustment Act of 2024

Bill: 118-hr-8908
Sponsor: full_name: Rep. Self, Keith [R-TX-3]
Introduced: 2024-06-28
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-06-28
text: Referred to the House Committee on Financial Services.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 8908 IN THE HOUSE OF REPRESENTATIVES June 28, 2024 Mr. Self (for himself, Mr. Tiffany , and Mr. Donalds ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Consumer Financial Protection Act of 2010 to limit the funding of the Consumer Financial Protection Bureau to an amount equal to $1.

1. Short title This Act may be cited as the Consumer Financial Protection Bureau Withdrawal Cap Adjustment Act of 2024 . 2. Limiting funding of consumer financial protection bureau to an amount equal to $1 Section 1017(a) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497(a) ) is amended— (1) in paragraph (1), by striking the amount determined by the Director to be reasonably necessary to carry out the authorities of the Bureau under Federal consumer financial law, taking into account such other sums made available to the Bureau from the preceding year (or quarter of such year) and inserting an amount equal to $1 ; (2) by striking paragraphs (2) and (3); and (3) by redesignating paragraphs (4) and (5) as paragraphs (2) and (3), respectively.