By Nashville Standard |
Jun 13, 2024
United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations and Banking Committees, has reintroduced the Consumer Financial Protection Bureau (CFPB) Accountability Act. The legislation, initially introduced in 2021, aims to require that the CFPB's funding be appropriated by Congress, aligning it with other Executive Branch agencies. Currently, the Federal Reserve provides the CFPB with requested funding within certain limits, allowing the agency to operate without fiscal accountability typical for other Executive Branch entities.