Consumer Financial Protection Bureau: New Oversight and Rules
This bill was sent to four different House committees on August 31, 2026, for review. It has not moved since that date, and it must receive a vote or approval from these committees before it can proceed. Most bills do not move past this stage of the process.
This is a highly partisan bill that would significantly weaken an agency favored by Democrats, making it unlikely to pass a divided Congress.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
The bill moves the CFPB from Federal Reserve funding into the regular yearly appropriations process, meaning Congress would decide the agency's budget each year. This creates funding uncertainty for CFPB staff and could lead to smaller budgets and reduced staffing over time. It also creates a new Inspector General position specific to the Bureau.
“Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended--”
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
The House Financial Services Committee is seeking public feedback on the Consumer Financial Protection Accountability and Reform Act of 2026. The bill proposes moving the CFPB to the congressional appropriations process and raising the supervisory threshold for banks to $30 billion.
Acting Director Russell Vought faced intense questioning over the administration's efforts to dismantle the CFPB. Lawmakers discussed the new Reform Act, which would strip the agency of its independent funding and significantly reduce its oversight of mid-sized financial institutions.
A new poll shows broad bipartisan support for the CFPB even as House Republicans advance the Accountability and Reform Act. The legislation includes new rules for earned wage access apps, requiring free versions and prohibiting recourse against users for failed payments.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Consumer Financial Protection Accountability and Reform Act of 2026
Analysis generated by AI. Always verify with official sources.