Project 2025 Tracker / What’s done, what’s next

27. Financial Regulatory Agencies · Major · Needs Congress

Abolish the Consumer Financial Protection Bureau

Not started

839 27. Financial Regulatory Agencies

“Congress should abolish the CFPB and reverse Dodd–Frank Section 1061, thus returning the consumer protection function of the CFPB to banking regulators and the Federal Trade Commission.”

What has happened

  1. Not started

    Congress has not abolished the CFPB and has not touched Dodd-Frank section 1061, which is what transferred the consumer-protection functions to the Bureau in the first place. The Bureau still exists, still holds those functions and was still issuing rules in the summer of 2026. Bills to abolish or defund it — the Repeal CFPB Act (H.R. 1603) and the Defund the CFPB Act (H.R. 814) — were introduced and referred, and have gone no further. What Congress did do was narrower: section 30001 of Public Law 119-21 (2025-07-04) cut the Bureau's funding cap from 12 percent to 6.5 percent of the Federal Reserve's operating expenses. That starves the agency; it does not abolish it or return a single function to the banking regulators or the FTC. Progress is measured on this ask, not on the adjacent bill: a smaller funding cap is not abolition, and the Status stays not-started with the funding cut carried as Evidence.

Research log

What was searched, and what didn’t count as evidence

Research notes

Searched 2026-08-27; queries in docs/research/ch-27.md.

  • Public Law 119-21, section 30001 (“Funding cap for the Bureau of Consumer Financial Protection”) amends 12 U.S.C. 5497(a)(2)(A)(iii) “by striking 12' and inserting 6.5’.” The enrolled text was read at https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm on 2026-08-27; that URL is now the Evidence on the not started event, per playbook §3b. The House-passed version (section 50003) would have gone further — a 5 percent cap plus a new limit on unobligated balances — and was softened in the Senate. It does not move the Status: the Quote asks for abolition and the reversal of section 1061, and neither has passed a chamber.
  • Repeal CFPB Act, H.R. 1603, introduced 2025-02-26, referred to House Financial Services; Defund the CFPB Act, H.R. 814, introduced 2025-01-28, same. Neither has had a committee vote. Corpus records 119-HR-1603 and 119-HR-814.
  • Congress did overturn two individual CFPB rules by Congressional Review Act resolution — Public Law 119-10 (overdraft lending, 2025-05-09) and Public Law 119-11 (larger participants in digital payment applications, 2025-05-09) — and dozens more CRA resolutions aimed at CFPB guidance were introduced in 2026. Repealing rules is not abolishing the agency; those belong to the “pull down its prior rules” ask, #2178.
  • The executive branch’s attempt to dismantle the Bureau is tracked separately at #2178.
Action
abolish
Object
the Consumer Financial Protection Bureau (CFPB)
ID
2177