CONGRESS FOR VOTERS

RepublicanBill · H.R. 1603· House(119-HR-1603)

Repeal CFPB Act

Rep. Donalds
Age: 48 years
Florida
Introduced
2/26/2025
Last activity
2/26/2025 — Referred to the House Committee on Financial Services.
Sponsored by
Byron Donalds
Cosponsors
Republican - 6Democrat - 0
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the ``Repeal CFPB Act'', aims to eliminate the Bureau of Consumer Financial Protection. It specifically targets the Consumer Financial Protection Act of 2010 for repeal. By doing so, the bill seeks to restore or revive previous provisions of law that were amended or repealed by that Act. The legislation was introduced by Mr. Donalds and several others in the 119th Congress.

Yes

  • Would business owners be better off under this?+5

    Eliminating the bureau reduces regulatory oversight and potential compliance costs for financial service providers.

  • Would high-income households be better off under this?+4

    The repeal of the CFPB reduces the regulatory burden and compliance costs often faced by financial institutions.

The opposite· 3 of 5

  • Does this give people more protection from unfair business practices?-7

    The bill eliminates the Consumer Financial Protection Bureau, which reduces oversight and protections against unfair financial practices.

  • Would households on low incomes be better off under this?-5

    The reduction in financial oversight may disproportionately affect low-income communities targeted by predatory lending.

  • Does this give the federal government more power?-3

    The bill reduces federal regulatory authority by eliminating a major oversight agency.