H.R. 1603 would eliminate the Consumer Financial Protection Bureau (CFPB), the federal agency created in 2010 to protect consumers from unfair or deceptive practices by banks, credit card companies, and other financial institutions. The bill would repeal the entire Consumer Financial Protection Act of 2010 and restore financial regulations to what existed before the CFPB was established. This would affect millions of Americans who currently rely on the CFPB to oversee consumer complaints, set lending standards, and enforce consumer protection laws in the financial industry. The bill contains no new funding or implementation timeline—it simply calls for the CFPB's elimination. The legislation was introduced in February 2025 and referred to the House Committee on Financial Services.
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