What does Preamble of TABS Act of 2025 do?

This bill proposes to change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency. The bill aims to transition the Consumer Financial Empowerment Agency to the regular appropriations process. The bill includes provisions for other purposes, though these are not specified in this section.

What does SHORT TITLE. of TABS Act of 2025 do?

This bill is formally titled the 'Taking Account of Bureaucrats' Spending Act of 2025'.

What does CONSUMER FINANCIAL EMPOWERMENT AGENCY. of TABS Act of 2025 do?

This section amends the Consumer Financial Protection Act of 2010 to rename the Bureau of Consumer Financial Protection as the Consumer Financial Empowerment Agency. The amendments modify section 1011 of the Consumer Financial Protection Act, including changes to headings, subsections, and terminology. Subsection (b) of section 1011 is amended to specify that the Agency's director shall be appointed by the President. Paragraph (3) of subsection (c) of section 1011 is removed. References to the Bureau of Consumer Financial Protection in laws, regulations, documents, and other records are deemed references to the Consumer Financial Empowerment Agency. The Dodd-Frank Wall Street Reform and Consumer Protection Act is also amended. Section 1012 of the Consumer Financial Protection Act is amended by removing 'examinations' from subsection (a)(10) and striking subsection (c).

What does BRINGING THE AGENCY INTO THE REGULAR APPROPRIATIONS PROCESS. of TABS Act of 2025 do?

This section amends Section 1017 of the Consumer Financial Protection Act of 2010. It modifies the headings and structure of subsections within Section 1017. Paragraphs (1), (2), and (3) of subsection (a) are struck, and paragraphs (4) and (5) are redesignated as (1) and (2) respectively. Subparagraphs (E) and (F) of paragraph (1) are removed. Subsections (b) and (c) are struck, and subsections (d) and (e) are redesignated as (b) and (c) respectively. Subsection (c) is amended to authorize appropriations for fiscal years 2026 and 2027. Paragraph (4) of subsection (c) is redesignated as paragraph (2).

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TABS Act of 2025

Last updated: 1/23/2025 · Introduced: 1/23/2025

Author: Andy Barr (R-KY)

TL;DR (AI)

This bill renames the Bureau of Consumer Financial Protection to the Consumer Financial Empowerment Agency.
The bill requires the President to appoint the director of the Consumer Financial Empowerment Agency.
The bill transitions the Consumer Financial Empowerment Agency to the standard congressional appropriations process.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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