CFPB Budget Integrity Act

Overview: Bill Number: HR 3141, Title: CFPB Budget Integrity Act, Status: Introduced in House, Introduced: May 01, 2025

Purpose and Intent: The CFPB Budget Integrity Act aims to increase congressional oversight and control over the budget of the Consumer Financial Protection Bureau (CFPB). The bill seeks to subject the CFPB's funding to the annual appropriations process, rather than allowing the bureau to draw funds directly from the Federal Reserve.

Key Provisions:
- Requires the CFPB to submit an annual budget request to Congress for approval through the appropriations process
- Prohibits the CFPB from accessing funds from the Federal Reserve without congressional appropriation
- Gives Congress the authority to set the CFPB's budget and funding levels annually

Affected Parties and Impacts:
- The CFPB would lose its current budgetary independence and become subject to the annual appropriations process
- Consumers and the financial services industry could be impacted by potential changes to the CFPB's funding and regulatory activities

Procedural and Timeline Considerations:
The bill has been introduced in the House of Representatives and is currently awaiting further action in the legislative process.