Defund the CFPB Act

Bill: 119-s-303
Sponsor: full_name: Sen. Cruz, Ted [R-TX]
Introduced: 2025-01-29
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-01-29
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2025-01-29
action_desc: Introduced in Senate
text: <p><strong>Defund the CFPB Act</strong></p><p>This bill caps funding of the Consumer Financial Protection Bureau at $0.</p>

tv_txt: II 119th CONGRESS 1st Session S. 303 IN THE SENATE OF THE UNITED STATES January 29, 2025 Mr. Cruz (for himself, Mr. Barrasso , Mr. Scott of Florida , Mr. Daines , Mrs. Blackburn , Mr. Rounds, and Mr. Lee ) 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 limit to $0 the amount that the Director of the Bureau of Consumer Financial Protection may request to fund the activities of the Bureau.

1. Short title This Act may be cited as the Defund the CFPB Act . 2. Limiting funding of bureau of consumer financial protection 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 taking into account and all that follows through the period at the end and inserting which shall be not more than $0. ; (2) by striking paragraphs (2) and (3); and (3) by redesignating paragraphs (4) and (5) as paragraphs (2) and (3), respectively.