Consumer Financial Protection Accountability and Reform Act of 2026

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Introduced 2026-08-31Topic: governance ethics · economy jobs · budget

Summary

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This bill changes how the Bureau of Consumer Financial Protection is funded, overseen, and allowed to enforce the law. It removes the Bureau's current funding provisions under the heading of bringing it into the regular appropriations process. It adds cost-benefit requirements for new rules, has the Office of Management and Budget review Bureau rules on a schedule, and creates a separate inspector general for the Bureau. It requires a rule defining 'abusive' practices, limits penalties and lawsuits in several ways, and bars federal agencies from overseeing attorneys' litigation activities. It also creates a legal safe harbor for bank and credit union loans of $3,500 or less, sets rules for earned wage access services, and orders a federal study of buy now pay later services.

Full text and official record on Congress.gov

Action history

Date	Chamber	Action	Status effect
2026-09-16	House	Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 21.	refer
2026-09-16	House	Committee Consideration and Mark-up Session Held	refer
2026-08-31	House	Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31		Introduced in House	introduce
2026-08-31		Introduced in House	introduce

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