Consumer Financial Protection Accountability and Reform Act of 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

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.

Would set new rules for how the consumer protection agency oversees financial companies and protects consumers.

This bill would change how the Bureau of Consumer Financial Protection (CFPB) works and oversees financial products and services. It would set new rules for how the agency makes rules, takes action, and handles consumer complaints. These changes aim to make the agency more responsible and give clearer rules for financial companies and consumers.

What Would Change

Today, the CFPB gets its money from the Federal Reserve. It also has wide power to define and act on "abusive acts or practices." Consumers can send in complaints without first talking to the company or confirming they are true. Also, stories from complaints can be made public. After this bill, the CFPB would need its annual funding from Congress. It would also have a narrower definition of "abusive acts," meaning it could not act on discrimination claims. Consumers would need to confirm their complaints are true and contact companies first. Complaint stories would also stay private. Financial companies would also see higher limits for direct CFPB oversight and more teamwork with other agencies in taking action.

Key Provisions

Requires the CFPB to get its annual funding from Congress each year.
Requires the CFPB to conduct detailed cost-benefit analyses for new rules, including impacts on small businesses and consumer access to credit.
Changes the definition of "abusive acts or practices" and prevents the CFPB from enforcing actions based on discrimination.
Creates a "safe harbor" from certain penalties for banks and credit unions offering small-dollar loans if they meet specific requirements.
Raises the asset threshold for direct CFPB supervision of banks and credit unions from $10 billion to $30 billion.
Requires consumers to attest to the truthfulness of their complaints and contact the company first before submitting them to the CFPB.

View on Congress.gov

HR 10184 · 119th Congress · AI Summary by gemini-2.5-flash · 9/10

Consumer Financial Protection Accountability and Reform Act of 2026

What Would Change

Key Provisions

Lobbying Activity