NEW YORK (AP) — Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is likely to lead ...

Key Points ・The Senate parliamentarian has ruled that defunding the Consumer Financial Protection Bureau (CFPB) through budget reconciliation violates the Byrd Rule, meaning it will require 60 ...

Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is likely to lead to ...

CFPB ordered Navy Federal in November 2024 to pay $80 million to service members unfairly charged overdraft fees. CFPB terminated that mandate this month.

In deference to this, Senate Republicans proposed lowering the amount the CFPB can draw from the Fed’s operating budget to 6.5%, about half of its current 12% level.

The new plan would cap the CFPB’s access to funding at 6.5% of the Federal Reserve operating budget, decreased from its current limit of 12%. Senate Banking Committee Chairman Tim Scott, R-SC ...

Republicans in the Senate proposed zeroing-out funding for the CFPB, the landmark agency set up in the aftermath of the 2008 financial crisis, to save $6.4 billion.

Republicans in the Senate proposed zeroing-out funding for the CFPB, the landmark agency set up in the aftermath of the 2008 financial crisis, to save $6.4 billion.

Republicans in the Senate proposed zeroing-out funding for the CFPB, the landmark agency set up in the aftermath of the 2008 financial crisis, to save $6.4 billion.

Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is likely to lead to ...

NEW YORK (AP) — Senate Republicans have moved to cut the funding of the Consumer Financial Protection Bureau by roughly half, as part of President Trump’s “Big Beautiful Bill,” which is ...