S4684Referred to Committee

Protecting American Consumers Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-06-04
Introduced
10
Cosponsors
S
ⓘ
Type

Sponsor

Elizabeth Warren
Elizabeth Warren
Democrat · MA · Senator
Votes with party: 85.0% (876 recorded votes)

Full profile: /officials/W000817

Source: Congress.gov · FEC

Cosponsors (10)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-06-04

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

The proposal would guarantee a minimum level of funding for the Consumer Financial Protection Bureau, the federal agency that oversees banks, credit card companies, and other financial institutions to protect consumers from unfair or deceptive practices. Currently, the bureau's budget can fluctuate based on decisions by other agencies, but this change would ensure it receives a set amount of money each year regardless of those decisions. This would affect consumers by potentially strengthening oversight of financial companies and their lending, credit, and banking practices.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4684 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4684 To amend the Consumer Financial Protection Act of 2010 to set a compulsory funding floor for the Bureau of Consumer Financial Protection, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 4, 2026 Ms. Warren (for herself, Mr. Reed, Mr. Warner, Mr. Van Hollen, Ms. Cortez Masto, Ms. Smith, Mr. Warnock, Mr. Kim, Mr. Gallego, Ms. Blunt Rochester, and Ms. Alsobrooks) 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 set a compulsory funding floor for the Bureau of Consumer Financial Protection, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Protecting American Consumers Act''. SEC. 2. FUNDING FLOOR FOR BUREAU OF CONSUMER FINANCIAL PROTECTION. Section 1017(a)(2) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)(2)) is amended-- (1) by amending subparagraph (A) to read as follows: ``(A) In general.--Notwithstanding paragraph (1), and in accordance with this paragraph, the amount that shall be transferred to the Bureau in each fiscal year shall be not less than 12 percent of the total operating expenses of the Federal Reserve System, as reported in the Annual Report, 2009, of the Board of Governors.''; and (2) in subparagraph (B), by striking ``(A)(iii)'' and inserting ``(A)''. <all>
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