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Bill to Eliminate the Consumer Financial Protection Bureau (CFPB).

This bill proposes the complete repeal of the Consumer Financial Protection Act of 2010, effectively eliminating the CFPB, the agency overseeing mortgages, credit cards, and loans. If passed, citizens would lose the primary federal body responsible for handling complaints and enforcing rules against unfair financial practices. This action restores previous laws from before 2010.
Key points
Complete elimination of the Bureau of Consumer Financial Protection (CFPB), which protects citizens from fraud and abuse in the financial market.
Restoration of laws that existed before 2010, resulting in reduced federal oversight of banks, lenders, and credit providers.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_1363
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-04-27
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Repeal CFPB Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1363.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Complete elimination of the Bureau of Consumer Financial Protection (CFPB), which protects citizens from fraud and abuse in the financial market.
  • Restoration of laws that existed before 2010, resulting in reduced federal oversight of banks, lenders, and credit providers.
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. Cruz, Ted [R-TX].

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 2025-12-26.

CATEGORIES

Economy