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HR9877FEDERALIN_COMMITTEE

CFPB Budget Integrity Act (H.R. 9877)

Original title: CFPB Budget Integrity Act

September 27, 2024

financefederal budgetconsumer protectiongovernment oversight

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Where This Stands

Introduced
Committee
Floor Vote
Passed
Signed

Currently IN_COMMITTEE. The next step in the legislative lifecycle is Floor Vote.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

The bill changes how the CFPB manages its financial reserves, requiring the agency to return excess unspent funds to the federal government rather than retaining them for future use.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Bureau of Consumer Financial Protection

The agency is subject to new caps on its retained funds and new reporting requirements regarding its spending.

What changed

Current stage: IN_COMMITTEE.

What's next

Floor Vote.

Summary

This bill limits the amount of leftover, unspent funds the Consumer Financial Protection Bureau (CFPB) can hold at the end of a to 5% of its annual funding cap. Any money exceeding this limit must be transferred to the U.S. Treasury's general fund.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Why It Matters

The bill changes how the CFPB manages its financial reserves, requiring the agency to return excess unspent funds to the federal government rather than retaining them for future use.

Frequently Asked Questions

What is an 'unobligated balance'?
In this context, it refers to funds that have been appropriated or allocated to the agency but have not yet been spent or committed to a specific contract or project.
What happens if the CFPB has too much money left over?
Under this bill, the Director of the CFPB would be required to transfer any amount exceeding 5% of the agency's authorized funding cap to the general fund of the U.S. Treasury.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Sponsors

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Connected Entities

personMr. Weber of Texas“Co-sponsor of the bill.”Map →
personMr. Williams of Texas“Co-sponsor of the bill.”Map →
bill_numberH.R. 9877“The bill's identification number.”Map →
personMr. Lopez“Co-sponsor of the bill.”Map →
personMr. Norman“Co-sponsor of the bill.”Map →
bill_numberConsumer Financial Protection Act of 2010“The act under which the CFPB operates.”Map →
personMr. Mooney“Introducer of the bill.”Map →
other118th Congress“The legislative body.”Map →
personMr. Meuser“Co-sponsor of the bill.”Map →
organizationU.S. Government Publishing Office“Source of the document.”Map →
personMr. Ogles“Co-sponsor of the bill.”Map →
organizationBureau of Consumer Financial Protection“The agency subject to the budget limitations.”Map →
personMr. Barr“Co-sponsor of the bill.”Map →

Analysis Score

0–100
  • Significance60
    How much this matters to a regular citizen
  • Controversy40
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz20
    Current news / social attention level

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