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House Republicans propose moving CFPB funding to congressional appropriations
The bill would also add an inspector general and require periodic reviews of major CFPB rules and supervisory guardrails.
House Republicans have introduced H.R. 10184, a package that would change how the Consumer Financial Protection Bureau is funded, reviewed, and supervised. HousingWire reports the proposal would move CFPB funding into the regular congressional appropriations process, ending the bureau’s current funding structure through the Federal Reserve.
The bill would strengthen oversight by creating a dedicated inspector general and mandating periodic reviews of major CFPB rules and supervisory guardrails. HousingWire says the package is designed to ensure the bureau’s benefits continue to justify its costs and that major regulations remain effective in practice.
HousingWire reports the legislation also spells out explicit considerations for how CFPB rules could affect small businesses, competition, credit access, and innovation. Financial Institutions Subcommittee Chairman Andy Barr and House Financial Services Committee Chairman French Hill tied the effort to calls for greater accountability and transparency.
HousingWire notes the proposal is part of an ongoing congressional fight over CFPB funding. In June, Senate Banking Committee Democrats introduced legislation to automatically and fully fund the bureau, and the outlet points to later court filings and a March decision involving the question of whether CFPB funding requests from the Fed are lawful under Dodd-Frank.