Defund the CFPB Act

House Bill

H.R. 814

119th Congress

Defund the CFPB Act

In Committee

Introduced:Jan 28, 2025

Primary Sponsor

Gwen Moore

Representative

Democratic

WI-4

Cosponsors

5

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill eliminates funding for the Consumer Financial Protection Bureau by capping its budget at zero dollars. The CFPB was created after the 2008 financial crisis to protect consumers from unfair practices by banks, lenders, and financial companies.

Latest Action

Referred to the House Committee on Financial Services.

AI Summary

Plain-English explanation of this bill

This bill eliminates funding for the Consumer Financial Protection Bureau by capping its budget at zero dollars. The CFPB was created after the 2008 financial crisis to protect consumers from unfair practices by banks, lenders, and financial companies.

Last updated: 1/6/2026

Official Summary

Congressional Research Service summary

Defund the CFPB ActThis bill caps funding of the Consumer Financial Protection Bureau at $0.

Key Points

Main provisions of the bill

Caps CFPB funding at zero dollars
Effectively eliminates the consumer protection agency
CFPB currently oversees banks and financial companies
Would end enforcement of consumer financial protection laws
Removes federal oversight of lending practices

How This Impacts Americans

Potential effects on citizens and communities

Consumer financial protection enforcement would cease. Banks, lenders, credit card companies, and debt collectors would no longer face CFPB oversight. Consumers would lose a federal agency dedicated to addressing unfair financial practices and scams.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

814, 119th Congress (2025). "Defund the CFPB Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-814