The Protecting American Consumers Act would amend federal law to establish a guaranteed minimum funding level for the Consumer Financial Protection Bureau (CFPB), the federal agency responsible for protecting consumers in financial markets. Currently, the CFPB's funding can be reduced at the discretion of Congress, but this bill would require that the agency receive at least 12 percent of the Federal Reserve System's total operating expenses each fiscal year, creating a stable funding floor that cannot be reduced below this threshold. This change would primarily affect the CFPB's ability to consistently enforce consumer protection laws and conduct regulatory oversight without worrying about budget cuts. The bill was introduced in June 2026 with bipartisan support from Democratic senators and would take effect once enacted, with the 12 percent calculation based on the Federal Reserve's 2009 baseline operating expenses.
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