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Renaming and Funding Change for Consumer Financial Protection Bureau

This act renames the Bureau of Consumer Financial Protection to the Consumer Financial Empowerment Agency. A key change is transitioning the agency to the regular appropriations process, meaning its funding will be approved by Congress rather than coming directly from the Federal Reserve. This aims to increase transparency and oversight of the agency's spending.
Key points
The Bureau of Consumer Financial Protection (CFPB) will be renamed the Consumer Financial Empowerment Agency (CFEA).
The agency's funding will come from a budget approved by Congress, rather than directly from the Federal Reserve, which may impact its independence and scope of activities.
The changes involve numerous laws where the CFPB name will be replaced with the new CFEA name, standardizing terminology in legal texts.
article Official text account_balance Process page
Introduced
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Additional Information
Print number: 119_HR_654
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2025-01-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

TABS Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_654.

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 2025-01-23.

What are the main provisions?

Key points include:

  • The Bureau of Consumer Financial Protection (CFPB) will be renamed the Consumer Financial Empowerment Agency (CFEA).
  • The agency's funding will come from a budget approved by Congress, rather than directly from the Federal Reserve, which may impact its independence and scope of activities.
  • The changes involve numerous laws where the CFPB name will be replaced with the new CFEA name, standardizing terminology in legal texts.
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. Barr, Andy [R-KY-6].

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 2025-12-23.

CATEGORIES

Economy Courts and Law