The Senate Banking Committee plan will terminate CFPB’s automatic funding and limit the pay of non-financial Fed staff.
The Senate Banking Committee has cut all essential funds in the Consumer Financial Protection Bureau (CFPB) and proposes CAP payments to many Federal Reserve employees, one big beautiful bill section.
The proposed changes released on June 5th and registered in the bill’s title III are part of a broader GOP effort to restructure regulators and reduce long-term federal spending.
