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S 5280 117th Congress Senate Finance and Financial Sector

CFPB Stability Act of 2022

Introduced: December 15, 2022 See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 15, 2022
Introduced in Senate
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 Plain-English summary Congressional Research Service

CFPB Stability Act of 2022

This bill restructures the leadership and funding of the Consumer Financial Protection Bureau.

Specifically, the bill removes the bureau from the Federal Reserve System. Additionally, the bill eliminates the positions of director and deputy director and establishes a five-person panel appointed by the President and confirmed by the Senate, with not more than three members belonging to any one political party.

Under the bill, the inspector general of the bureau must be appointed by the President and confirmed by the Senate. Under current law, the inspector general of the Federal Reserve Board also serves as the inspector general of the bureau.

Further, the source of funding for the bureau is changed from Federal Reserve System transfers to annual appropriations. Under current law, the transfers from the Federal Reserve System permit the bureau to be funded outside of the annual appropriations process.

What's happening now December 15, 2022

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 2
  • HR 790 Related bill TABS Act of 2021
  • S 2790 Related bill Consumer Financial Protection Bureau Accountability Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Hagerty, Bill
Tennessee · Dec 15, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 5280: CFPB Stability Act of 2022. 117th Congress. Open America. https://openamerica.io/bill/117-S-5280/
MLA
"S. 5280: CFPB Stability Act of 2022." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-5280/.
Bluebook (legal)
S. 5280, 117th Cong. (2026), https://openamerica.io/bill/117-S-5280/.
Markdown link
[S. 5280: CFPB Stability Act of 2022](https://openamerica.io/bill/117-S-5280/)
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