Section 1 Short title
This Act may be cited as the “Consumer Financial Protection Bureau Withdrawal Cap Adjustment Act of 2024”.
Consumer Financial Protection Bureau Withdrawal Cap Adjustment Act of 2024
A BILL
To amend the Consumer Financial Protection Act of 2010 to limit the funding of the Consumer Financial Protection Bureau to an amount equal to $1.
Sec. 2 Limiting funding of consumer financial protection bureau to an amount equal to $1
Section 1017(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)) is amended—
in paragraph (1), by striking “the amount determined by the Director to be reasonably necessary to carry out the authorities of the Bureau under Federal consumer financial law, taking into account such other sums made available to the Bureau from the preceding year (or quarter of such year)” and inserting “an amount equal to $1”;
by striking paragraphs (2) and (3); and
by redesignating paragraphs (4) and (5) as paragraphs (2) and (3), respectively.