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II
116TH CONGRESS
1ST SESSION
S. 453
To amend the Consumer Financial Protection Act of 2010 to subject the
Bureau of Consumer Financial Protection to the regular appropriations
process, and for other purposes.
IN THE SENATE OF THE UNITED STATES
FEBRUARY 12, 2019
Mr. PERDUE (for himself, Mr. BARRASSO, Mrs. BLACKBURN, Mr. BOOZMAN,
Mr. CRUZ, Ms. ERNST, Mr. GRASSLEY, Mr. HOEVEN, Mrs. HYDE-SMITH,
Mr. INHOFE, Mr. ISAKSON, Mr. KENNEDY, Mr. LANKFORD, Mr. MORAN,
Mr. ROUNDS, Mr. RUBIO, Mr. SASSE, and Mr. SULLIVAN) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
A BILL
To amend the Consumer Financial Protection Act of 2010
to subject the Bureau of Consumer Financial Protection
to the regular appropriations process, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Consumer Financial
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Protection Bureau Accountability Act of 2019’’.
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•S 453 IS
SEC. 2. SUBJECTING THE BUREAU OF CONSUMER FINAN-
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CIAL PROTECTION TO THE REGULAR APPRO-
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PRIATIONS PROCESS.
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(a) IN GENERAL.—Section 1017 of the Consumer Fi-
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nancial Protection Act of 2010 (12 U.S.C. 5497) is
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amended—
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(1) in subsection (a)—
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(A) in the subsection heading, by striking
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‘‘TRANSFER OF FUNDS FROM BOARD OF GOV-
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ERNORS.—’’ and inserting ‘‘BUDGET AND FI-
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NANCIAL MANAGEMENT.—’’;
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(B) by striking paragraphs (1) through
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(3);
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(C) by redesignating paragraphs (4) and
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(5) as paragraphs (1) and (2), respectively; and
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(D) in paragraph (1), as so redesignated—
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(i) in the paragraph heading, by strik-
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ing ‘‘BUDGET
AND
FINANCIAL
MANAGE-
18
MENT.—’’ and inserting ‘‘IN GENERAL.—’’;
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(ii) by striking subparagraph (E); and
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(iii) by redesignating subparagraph
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(F) as subparagraph (E);
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(2) by striking subsections (b) through (d);
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(3) by redesignating subsection (e) as sub-
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section (b); and
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(4) in subsection (b), as so redesignated—
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•S 453 IS
(A) by striking paragraphs (1) through (3)
1
and inserting the following:
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‘‘(1) AUTHORIZATION
OF
APPROPRIATIONS.—
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There is authorized to be appropriated such funds as
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may be necessary to carry out this title for fiscal
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year 2021.’’; and
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(B) by redesignating paragraph (4) as
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paragraph (2).
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(b) EFFECTIVE DATE.—The amendments made by
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this Act shall take effect on October 1, 2020.
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Æ
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