Bill would put consumer bureau's funding under annual congressional control
In markupH.R. 10184Latest action
Sponsor: Andy Barr · Representative · KY
AIDecoded by AI · checked against the recordRead the official text
Official title: Consumer Financial Protection Accountability and Reform Act of 2026
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
The plain-language version comes first. The official text is always the reference.
The bill would require Congress to approve the CFPB's budget yearly and limit its enforcement powers.
45-second read · 5 questions answered below
What does this do?
This bill, the Consumer Financial Protection Accountability and Reform Act of 2026, changes how the CFPB is funded, regulated, and overseen. It requires annual congressional budget approval, mandates cost-benefit studies before rules, creates a separate , narrows enforcement powers, raises size thresholds for bank oversight, and sets new rules for small-dollar loans and earned wage access apps.
Who does it affect?
The bill affects the CFPB, banks, credit unions, insurance companies, and lenders, as well as consumers who use credit cards, mortgages, payday loans, small-dollar loans, or paycheck-advance apps.
Why does it matter?
The changes would shift regulatory power toward Congress and traditional bank regulators, add procedural protections for financial companies, and reduce the number of institutions directly overseen by the CFPB.
What does it cost, and who pays?
The bill changes how the CFPB is funded, moving it from automatic funding to a budget requiring annual congressional approval.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Introduced in House” text of Aug 31, 2026.
After that text, a committee agreed on Sep 16, 2026 to send the bill to the full chamber with changes. This plain-language version may not reflect them.
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Where does it stand?
- IntroducedAug 31, 2026
- House committeeYou are here · Sep 16, 2026
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 21.
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How it's being covered
Coverage of this bill from across the press. Each outlet's political lean is labeled where AllSides has rated it, and marked "Not rated" where it has not.
Newest of these articles:
insurancejournal.com
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pymnts.com
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