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Consumer Protection Changes: New Structure for Consumer Financial Protection Bureau

This legal act changes how the Consumer Financial Protection Bureau (CFPB) is managed. Instead of a single director, the Bureau will be led by a five-member commission. This aims to increase the Bureau's independence and better protect your financial rights as a consumer.
Key points
The Consumer Financial Protection Bureau (CFPB) will now be managed by a five-member commission, not a single director.
Commission members will be appointed by the President and confirmed by the Senate, with requirements for private sector or state bank supervisor experience.
The change aims to enhance the Bureau's independence and ensure a broader range of perspectives in consumer protection decisions.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3445
Sponsor: Rep. Huizenga, Bill [R-MI-4]
Process start date: 2025-05-15
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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

Bureau of Consumer Financial Protection Commission Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3445.

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 2025-05-15.

What are the main provisions?

Key points include:

  • The Consumer Financial Protection Bureau (CFPB) will now be managed by a five-member commission, not a single director.
  • Commission members will be appointed by the President and confirmed by the Senate, with requirements for private sector or state bank supervisor experience.
  • The change aims to enhance the Bureau's independence and ensure a broader range of perspectives in consumer protection decisions.
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. Huizenga, Bill [R-MI-4].

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

Courts and Law Economy