Section 1 Short title
This Act may be cited as the “CFPB Budget Integrity Act”.
CFPB Budget Integrity Act
A BILL
To impose limitations on the amount of unobligated balances of the Bureau of Consumer Financial Protection, and for other purposes.
Sec. 2 Limitation on unobligated balances of the Bureau of Consumer Financial Protection
In general— Section 1017(a)(2) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)(2)) is amended by adding at the end the following new subparagraph:
“(D) Limitation on unobligated balances—For a fiscal year, the amount of unobligated balances of the Bureau may not exceed 5 percent of the dollar amount referred to in subparagraph (A)(iii). The Director shall transfer any excess amount of such unobligated balances to the general fund of the Treasury.”
Report on use of unobligated balances— Section 1017(e)(4) of such Act (12 U.S.C. 5497(e)(4)) is amended by inserting “(including a description of the use of any unobligated balances)” after “funds of the Bureau”.