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Eliminating the Consumer Financial Protection Bureau

This bill aims to completely abolish the Consumer Financial Protection Bureau (CFPB). This means that consumer protection regulations in financial matters, introduced in 2010, would be repealed. As a result, citizens might lose some of their current protections when dealing with banks and other financial institutions.
Key points
The Consumer Financial Protection Bureau (CFPB), which oversees banks and lending companies, would be eliminated.
Consumer protection laws in the financial sector, enacted in 2010, would no longer be in effect.
Citizens may have fewer tools to resolve disputes with financial institutions and less protection against unfair practices.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1603
Sponsor: Rep. Donalds, Byron [R-FL-19]
Process start date: 2025-02-26
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Summarized by: gemini-2.5-flash
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 119_HR_1603.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-26.

What are the main provisions?

Key points include:

  • The Consumer Financial Protection Bureau (CFPB), which oversees banks and lending companies, would be eliminated.
  • Consumer protection laws in the financial sector, enacted in 2010, would no longer be in effect.
  • Citizens may have fewer tools to resolve disputes with financial institutions and less protection against unfair practices.
What is the specific legal status?

The current status is Introduced.

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 Rep. Donalds, Byron [R-FL-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Courts and Law