YourVoice.Now Summary
Your MoneyCorporate BenefitsWould shut down the Consumer Financial Protection Bureau, the federal agency overseeing loans, bank accounts, and debt collectors
Your Money
The Bureau oversees companies that make loans, hold bank accounts, cash checks, run credit reports, and collect debts. The bill repeals the 2010 law that created it, with no start date or wind-down plan.
Corporate Benefits
Companies that offer consumer loans, payments, credit reports, or debt collection would no longer answer to the Bureau. Laws the 2010 act changed would read again as they did before it passed.
More about this bill
The federal agency that oversees consumer loans, bank accounts, and debt collectors would be shut down. That agency is the Consumer Financial Protection Bureau, often called the CFPB. The bill repeals the 2010 law that created it, the Consumer Financial Protection Act. Today the Bureau writes and enforces rules for companies that lend money or hold deposits. It also covers check cashing, credit reports, and debt collection. Laws the 2010 act changed would go back to how they read before it passed. The bill is one sentence long. It sets no start date and no wind-down plan. It does not say what happens to the Bureau's current rules or staff.
Congressional Summary
Repeal CFPB Act This bill repeals the Consumer Financial Protection Act of 2010, which established the Consumer Financial Protection Bureau.
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Introduced in House
- Action Date
- 2025-02-26
- Date Added
- 2026-10-06
- Source
- Congress.gov →
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