119th Congress Finance and Financial Sector
H.R. 3445: Bureau of Consumer Financial Protection Commission Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill restructures the Consumer Financial Protection Bureau (CFPB) and creates a five-member commission to manage the bureau. Currently, the CFPB is an autonomous bureau within the Federal Reserve System and is led by a director who is appointed by the President with the advice and consent of the Senate.
The bill removes the CFPB from the Federal Reserve System and reestablishes it as an independent agency.
The commission established by this bill is composed of five members appointed by the President with the advice and consent of the Senate, with one member selected by the President to serve as chair of the commission. No more than three commissioners may be members of the same political party. The bill also sets forth provisions regarding terms, quorums, and vacancies. The bill specifies that the President may a remove a commissioner for inefficiency, neglect of duty, or malfeasance in office.
Read the full summary
The bill also revises the membership requirements of the Consumer Advisory Board. The board advises and consults with the CFPB regarding relevant consumer financial laws and provides information on emerging practices in the consumer financial products and services industry. Currently, at least six members must be appointed upon recommendation of the regional Federal Reserve Bank presidents. The bill removes this requirement and requires at least half of all members to have private sector experience.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Garland Barr R-KYOriginal
- Scott Fitzgerald R-WIOriginal
- Daniel Meuser R-PAOriginal
- Tim Moore R-NCOriginal
- John Rose R-TNOriginal
- William Timmons R-SCOriginal
- Roger Williams R-TX
- Vern Buchanan R-FL
- Barry Loudermilk R-GA
- Tracey Mann R-KS
Who scored on this bill
No member has earned points from it yet.
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Bill Huizenga
- H.R. 6058: STRIDE Act
- H.R. 8283: Deterring American AI Model Theft Act of 2026
- H.R. 3447: Chip Security Act
- H.R. 7085: To amend the Securities Exchange Act of 1934 to repeal certain disclosure requirements related to conflict minerals, and for other purposes.
- H.R. 6555: Enhancing Bank Resolution Participation Act
- H.R. 3190: BRAVE Burma Act
History
- Introduced in the House by Bill Huizenga.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.