To change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes.
2/13/2025, 9:06 AMSummary of Bill HR 654
Bill 119 hr 654, also known as the Consumer Financial Empowerment Agency Act, aims to transform the Bureau of Consumer Financial Protection into an independent agency called the Consumer Financial Empowerment Agency. This bill seeks to make the agency more accountable by transitioning it to the regular appropriations process, which means that its funding would be subject to approval by Congress each year.The main goal of this legislation is to empower consumers by ensuring that they have access to fair and transparent financial services. By changing the structure of the agency and making it more accountable to Congress, supporters of the bill believe that it will be better equipped to protect consumers from predatory practices and promote financial literacy.
In addition to these changes, the bill also includes provisions for other purposes, although specific details are not provided in the summary. Overall, the Consumer Financial Empowerment Agency Act aims to strengthen consumer protections and promote financial empowerment for all Americans.
Current Status of Bill HR 654
Bill HR 654 is currently in the status of Bill Introduced since January 23, 2025. Bill HR 654 was introduced during Congress 119 and was introduced to the House on January 23, 2025. Bill HR 654's most recent activity was Referred to the House Committee on Financial Services. as of January 23, 2025Bipartisan Support of Bill HR 654
Total Number of Sponsors
6Democrat Sponsors
0Republican Sponsors
6Unaffiliated Sponsors
0Total Number of Cosponsors
44Democrat Cosponsors
0Republican Cosponsors
44Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 654
Primary Policy Focus
Alternate Title(s) of Bill HR 654
To change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes.To change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of HR 654
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