CFPB Budget Integrity Act

Bill: 118-hr-9877
Sponsor: full_name: Rep. Mooney, Alexander X. [R-WV-2]
Introduced: 2024-09-27
Policy area: Finance and Financial Sector
Latest action: action_date: 2024-09-27
text: Referred to the House Committee on Financial Services.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9877 IN THE HOUSE OF REPRESENTATIVES September 27, 2024 Mr. Mooney (for himself, Mr. Barr , Mr. Weber of Texas , Mr. Ogles , Mr. Meuser , Mr. Norman , Mr. Williams of Texas , and Mr. Lopez ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To impose limitations on the amount of unobligated balances of the Bureau of Consumer Financial Protection, and for other purposes.

1. Short title This Act may be cited as the CFPB Budget Integrity Act . 2. Limitation on unobligated balances of the Bureau of Consumer Financial Protection (a) In general Section 1017(a)(2) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5497(a)(2) ) is amended by adding at the end the following new subparagraph: (D) Limitation on unobligated balances For a fiscal year, the amount of unobligated balances of the Bureau may not exceed 5 percent of the dollar amount referred to in subparagraph (A)(iii). The Director shall transfer any excess amount of such unobligated balances to the general fund of the Treasury. . (b) Report on use of unobligated balances Section 1017(e)(4) of such Act ( 12 U.S.C. 5497(e)(4) ) is amended by inserting (including a description of the use of any unobligated balances) after funds of the Bureau .