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S. 1335 (116th): Repeal CFPB Act

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About the bill

Has the main new agency created in the wake of the ’08 crash done more good or harm?

Context

In the aftermath of the 2008–09 financial crash, congressional Democrats enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. Almost every congressional Republican opposed: only three Senate Republicans and three House Republicans voted in favor.

One of the law’s main provisions established a new government agency called the Consumer Financial Protection Bureau, or the CFPB. Critics on the right contend that the agency stifles business with its heavy-handed regulations of the financial and banking industries.

What the bill does

The Repeal CFPB Act would do exactly what its name implies: abolish the Consumer Financial Protection Bureau.

Their budget this fiscal year is $533.0 million, so ostensibly taxpayers would save …

Sponsor and status

Ted Cruz

Sponsor. Junior Senator for Texas. Republican.

Read Text »
Last Updated: May 6, 2019
Length: 1 page
Introduced
May 6, 2019
116th Congress (2019–2021)
Status
Died in a previous Congress

This bill was introduced on May 6, 2019, in a previous session of Congress, but it did not receive a vote.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).

Cosponsors

8 Cosponsors (8 Republicans)

Source

History

May 6, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

S. 1335 (116th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 1335. This is the one from the 116th Congress.

This bill was introduced in the 116th Congress, which met from Jan 3, 2019 to Jan 3, 2021. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“S. 1335 — 116th Congress: Repeal CFPB Act.” www.GovTrack.us. 2019. February 6, 2023 <https://www.govtrack.us/congress/bills/116/s1335>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.