Bill · H.R. 814· House(119-HR-814)
Defund the CFPB Act
- Introduced
- 1/28/2025
- Last activity
- 1/28/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Keith Self
- Cosponsors
- - 5 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Defund the CFPB Act," seeks to amend the Consumer Financial Protection Act of 2010. The primary goal is to change the funding process for the Bureau of Consumer Financial Protection. It aims to limit the amount of money the Director can request to fund the Bureau's activities to $0. This would effectively remove the current funding mechanisms described in the original act.
Yes
No question was scored yes.
The opposite· 3 of 5
Does this give people more protection from unfair business practices?-10
The bill eliminates the funding for the Consumer Financial Protection Bureau, which removes the agency's ability to enforce consumer financial protections.
Would households on low incomes be better off under this?-8
The removal of the CFPB reduces protections against predatory financial practices that disproportionately affect low-income families.
Would middle-income households be better off under this?-5
The bill removes the regulatory oversight intended to protect middle-class consumers from unfair financial practices.
Who it would affect, and how
Potential Positive Impacts for People
- Limiting Bureau Funding: The bill changes the language regarding the amount the Director may request to "not more than $0" (Section 2). This would result in the Bureau of Consumer Financial Protection having no requested funds for its activities.
Potential Negative Impacts for People
- Elimination of Bureau Activities: By amending the amount the Director may request to $0, the bill strikes existing paragraphs related to the Bureau's funding (Section 2). This would prevent the Bureau of Consumer Financial Protection from receiving requested funds to perform its activities.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households-8Good For Middle Class Households-5Good For Urban Residents-3
- Economy And Finance
- Improves Consumer Protection-10
- Governance And Ideology
- Improves Government Transparency-5
- 1/28/2025
- Referred to the House Committee on Financial Services.
- 5 Cosponsors added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Byron DonaldsRepublican · Florida
Glenn GrothmanRepublican · Wisconsin
August PflugerRepublican · Texas
Thomas TiffanyRepublican · Wisconsin
Randy WeberRepublican · Texas