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H.R. 790: TABS Act of 2021

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About the bill

Who should control the purse strings for one of the main agencies set up after the 2008 financial crash?

Context

Created in response to the financial crisis of 2008–09, the Consumer Financial Protection Bureau (CFPB) is a relatively new government watchdog agency. Through 2020, they’ve brought 284 enforcement actions which returned $12.9 billion to consumers. Critics contend the bureau, even if well-intentioned, is too overzealous to the point of being anti-business.

Unlike most components of the federal government, which are funded directly by Congress, CFPB was set up to be funded independently by the Federal Reserve, so long as they don’t exceed a statutory cap. Opponents say the bureau exerts considerable control over the economy with little to no accountability, and by making its funding contingent ...

Sponsor and status

Garland “Andy” Barr

Sponsor. Representative for Kentucky's 6th congressional district. Republican.

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Last Updated: Feb 4, 2021
Length: 3 pages
Introduced
Feb 4, 2021
117th Congress (2021–2023)
Status

Introduced on Feb 4, 2021

This bill is in the first stage of the legislative process. It was introduced into Congress on February 4, 2021. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

Cosponsors

26 Cosponsors (26 Republicans)

Prognosis
1% chance of being enacted according to Skopos Labs (details)
Source

History

Feb 4, 2021
 
Introduced

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

If this bill has further action, the following steps may occur next:
 
Passed Committee

 
Passed House

 
Passed Senate

 
Signed by the President

H.R. 790 is 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 H.R. 790. This is the one from the 117th Congress.

How to cite this information.

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

“H.R. 790 — 117th Congress: TABS Act of 2021.” www.GovTrack.us. 2021. June 18, 2021 <https://www.govtrack.us/congress/bills/117/hr790>

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.