House Republicans Introduce Bill to Curb CFPB Authority

House Republicans introduced legislation that would place the CFPB under the regular congressional appropriations process and impose new statutory limits on its supervisory and enforcement powers.

Representative Andy Barr (R-KY), who chairs the Financial Institutions Subcommittee, introduced the bill with Financial Services Committee Chair French Hill (R-AR) and 28 other Republicans.

In the Consumer Financial Protection Accountability and Reform Act of 2026 (H.R. 10184), the lawmakers proposed measures to increase the agency's accountability and transparency (see prior coverage). The bill would establish a dedicated Inspector General for the CFPB and require periodic cost-benefit reviews of major rules. The bill would also require nine financial agencies, including the CFPB, the SEC, and the banking regulators, to stamp their guidance with a statement that it does not have the force of law.

The sponsors sought to establish more predictable standards for supervision and enforcement. The bill would reduce duplicative examinations of financial institutions already overseen by other federal regulators and clarify the limits of the CFPB's authority to regulate unfair, deceptive, or abusive acts or practices. The legislation would also promote proportionate penalties and provide incentives for firms that self-report and remediate compliance problems.

In a statement, Mr. Barr said the package reins in the agency's authority and strengthens oversight, citing a White House study estimating the CFPB has cost consumers nearly $370 billion since 2011. Consumer Bankers Association President and CEO Lindsey Johnson expressed support for the legislation at a September 1, 2026, fireside chat with Mr. Hill and Mr. Barr. She said it would require the CFPB to base rules on rigorous cost-benefit analysis and evidence of actual consumer harm.