Section 1 Short title
This Act may be cited as the “Defund the CFPB Act”.
Defund the CFPB Act
A BILL
To amend the Consumer Financial Protection Act of 2010 to limit to $0 the amount that the Director of the Bureau of Consumer Financial Protection may request to fund the activities of the Bureau.
Sec. 2 Limiting funding of bureau of consumer financial protection
Section 1017(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)) is amended—
in paragraph (1), by striking “taking into account” and all that follows through the period at the end and inserting “which shall be not more than $0.”;
by striking paragraphs (2) and (3); and
by redesignating paragraphs (4) and (5) as paragraphs (2) and (3), respectively.