S. 4684

[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>