Republican leaders and nearly all Republican members of the U.S. House Financial Services Committee unveiled legislation that would overhaul the Consumer Financial Protection Bureau’s governance, rulemaking, supervision and enforcement framework. The proposal would place the CFPB under the regular congressional appropriations process, establish a dedicated inspector general and require periodic cost-benefit reviews of major rules. The bill would clarify the CFPB’s statutory authority, strengthen due process and confirm that agency guidance is not legally binding. It would also seek to reduce duplicative examinations, establish more predictable supervisory and enforcement standards, promote proportionate penalties and provide incentives for firms that self-report and remediate violations. Committee Chairman French Hill indicated that he intends to bring the legislation to the House floor.
2026-09-01U.S. Financial Services Committee
U.S. House Financial Services Committee Republicans unveil bill to tighten CFPB oversight and statutory guardrails
U.S. House Financial Services Committee Republicans unveiled legislation to place the CFPB under congressional appropriations and strengthen oversight of its rulemaking, supervision and enforcement. The bill would clarify the bureau’s authority, make guidance nonbinding, reduce duplicative examinations and promote proportionate penalties and remediation.