S 303 · in committee · major
Defund the CFPB Act
- economy
What this bill does
- This bill eliminates federal funding for the Consumer Financial Protection Bureau.
- It affects consumers who rely on the bureau to regulate financial institutions and handle complaints.
- The bill takes effect immediately by capping the agency's budget at zero dollars.
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Community Threads
Started by Cosponsor
- 01
How would eliminating CFPB funding affect the oversight of financial institutions and complaint resolution for consumers currently using the bureau's services?
- 02
What evidence exists that state regulators or other federal agencies could effectively replace the CFPB's role in protecting consumers from financial industry practices?
- 03
Which financial regulations and consumer protections might be weakened or eliminated if the CFPB loses all federal funding?
Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.
Sponsor · R-TX
Ted Cruz
Citizen cosponsors
0
In Congress
6/ 100
Senators cosponsoring
Introduced 2025-01-29
Joining the bill
Legislative timeline
2025-01-29 · senate · IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-01-29 · IntroReferral
Introduced in Senate
Citizen comments
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