Abolish the Consumer Financial Protection Bureau
What the document says“Congress should abolish the CFPB and reverse”
The full sentence asks Congress to abolish the bureau and reverse section 1061 of Dodd-Frank, returning the consumer protection function to banking regulators and the Federal Trade Commission. The part calls the bureau highly politicized, damaging, utterly unaccountable and unconstitutional, and says that provided the Supreme Court affirms a Fifth Circuit holding then pending, the next President should order the immediate dissolution of the agency, pull down its rules and guidance and return its staff to their prior agencies.
What the document actually says“Congress should abolish the CFPB and reverse”
Congress should close this agency down.
One agency polices banks and lenders for unfair treatment of customers. The book says it answers to no one. It says Congress should close it.
Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to “Overdraft Lending: Very Large Financial Institutions”
2025-05-09 · 139 Stat. 53
Public Law 119-10, enacted in 2025 under the Congressional Review Act, states that Congress disapproves the Consumer Financial Protection Bureau's Overdraft Lending rule for very large financial institutions and that the rule shall have no force or effect. A companion, Public Law 119-11, does the same to the bureau's larger participants rule for digital payment applications. That answers the part of the chapter that asks Congress to pull down the bureau's rules. It does not answer the proposal itself: the bureau continues to exist with its funding and structure intact, section 1061 of Dodd-Frank is untouched, no function returns to the banking regulators or the Federal Trade Commission, and the resolutions state no reason and reach only the two rules they name.
Congress struck down two rules from the consumer bureau. A pair of laws say those rules have no force. But the bureau itself stands, with its money and shape unchanged. The chapter asked for it to be closed, and no duty moved to another agency.