CFPB Budget Integrity Act

# CFPB Budget Integrity Act Summary **What the Bill Would Do:** The CFPB Budget Integrity Act (HR 3141) would change how the Consumer Financial Protection Bureau (CFPB) is funded. Currently, the CFPB receives its budget directly from the Federal Reserve rather than through the standard congressional appropriations process. This bill would require the CFPB to request and justify its budget to Congress each year, like most other federal agencies do, rather than having its funding automatically provided. **Who It Affects:** The bill primarily affects the CFPB, a federal agency created in 2010 that oversees consumer financial products and services (credit cards, mortgages, student loans, etc.). It would indirectly impact the financial institutions the CFPB regulates and consumers who use financial services.

Congress would have more direct control over the agency's budget and operations. **Key Provisions & Current Status:** The bill would eliminate the CFPB's independent funding mechanism and place it under the regular congressional appropriations process. This is a significant structural change that supporters argue would increase accountability, while opponents contend it could compromise the agency's independence. The bill is currently in committee, meaning it has not yet been debated or voted on by the full House of Representatives.