TABS Act of 2025

House Bill

H.R. 654

119th Congress

TABS Act of 2025

In Committee

Introduced:Feb 4, 2025

Primary Sponsor

David P. Joyce

Representative

Republican

OH-14

Cosponsors

15

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill restructures the Consumer Financial Protection Bureau, renaming it the Consumer Financial Empowerment Agency and moving it outside the Federal Reserve System. It changes the funding structure to require congressional appropriations instead of Fed transfers.

Latest Action

Referred to the House Committee on Financial Services.

AI Summary

Plain-English explanation of this bill

This bill restructures the Consumer Financial Protection Bureau, renaming it the Consumer Financial Empowerment Agency and moving it outside the Federal Reserve System. It changes the funding structure to require congressional appropriations instead of Fed transfers.

Last updated: 1/5/2026

Official Summary

Congressional Research Service summary

Taking Account of Bureaucrats' Spending Act of 2025 or the TABS Act of 2025 This bill restructures the Consumer Financial Protection Bureau and renames it as the Consumer Financial Empowerment Agency. The new agency is established as an independent agency outside of the Federal Reserve System.The bill also changes the funding structure of the agency by prohibiting the transfer of funds to the agency from the Federal Reserve System and by authorizing congressional appropriations for FY2026-FY2027.

Key Points

Main provisions of the bill

Renames CFPB as Consumer Financial Empowerment Agency
Removes agency from Federal Reserve System
Ends funding through Federal Reserve transfers
Requires congressional appropriations for funding
Restructures the consumer financial protection agency

How This Impacts Americans

Potential effects on citizens and communities

The consumer financial protection agency would depend on annual congressional appropriations, giving Congress more control over its budget and potentially its activities. The agency would operate as an independent entity outside the Federal Reserve.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

654, 119th Congress (2025). "TABS Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-654