Repeal CFPB Act

House Bill

H.R. 2937

119th Congress

Repeal CFPB Act

In Committee

Introduced:Sep 30, 2025

Primary Sponsor

Darin LaHood

Representative

Republican

IL-16

Cosponsors

9

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would eliminate the Consumer Financial Protection Bureau (CFPB), an independent government agency that oversees and enforces laws related to consumer financial products and services like credit cards, mortgages, and student loans.

Latest Action

Referred to the House Committee on Financial Services.

AI Summary

Plain-English explanation of this bill

This bill would eliminate the Consumer Financial Protection Bureau (CFPB), an independent government agency that oversees and enforces laws related to consumer financial products and services like credit cards, mortgages, and student loans.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Repeal CFPB Act This bill repeals the Consumer Financial Protection Act of 2010, which established the Consumer Financial Protection Bureau.

Key Points

Main provisions of the bill

The CFPB was created in 2010 to protect consumers from unfair, deceptive, or abusive practices by financial companies.
This bill would abolish the CFPB, leaving consumers without a dedicated federal agency to investigate complaints or take action against financial institutions that mistreat customers.
Without the CFPB, there would be less government oversight and enforcement of consumer protection laws in the financial sector.

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, individual consumers could be more vulnerable to predatory lending practices, hidden fees, and other issues with financial products and services. Small businesses and community organizations that rely on the CFPB's work could also be negatively impacted.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2937, 119th Congress (2025). "Repeal CFPB Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-2937