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Changes to Consumer Financial Protection Bureau Funding

This act changes how the Consumer Financial Protection Bureau (CFPB) is funded. Instead of automatic funding, the Bureau will now need to request money from Congress annually. Additionally, unused funds from financial penalties will go to the Treasury, not remain with the Bureau.
Key points
The Consumer Financial Protection Bureau will now be funded through the regular Congressional appropriations process, meaning its budget will be subject to annual review and approval.
Any excess funds from civil penalties, after direct victims are compensated, will be transferred to the general fund of the Treasury.
These changes will take effect on October 1, 2022.
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Expired
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Additional Information
Print number: 117_S_2790
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2021-09-21
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Consumer Financial Protection Bureau Accountability Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2790.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-09-21.

What are the main provisions?

Key points include:

  • The Consumer Financial Protection Bureau will now be funded through the regular Congressional appropriations process, meaning its budget will be subject to annual review and approval.
  • Any excess funds from civil penalties, after direct victims are compensated, will be transferred to the general fund of the Treasury.
  • These changes will take effect on October 1, 2022.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Courts and Law Economy