Congressman Keith Self Calls on Speaker Mike Johnson to Defund CFPB in Reconciliation Bill

Congressman Keith Self is leading a letter urging Speaker Mike Johnson to include H.R. 814, the Defund the CFPB Act, in an upcoming reconciliation package. This legislation aims to permanently prohibit the Consumer Financial Protection Bureau (CFPB) from withdrawing funds from the Federal Reserve, effectively eliminating the agency’s financial autonomy.

H.R. 814 seeks to amend the Consumer Financial Protection Act of 2010 by setting the CFPB’s funding statutory withdraw limit to $0, thereby restricting its operational capabilities. The bill has garnered support from several co-sponsors, including Representatives Randy Weber, Byron Donalds, Glenn Grothman, Tom Tiffany, and August Pfluger, and has been introduced in the Senate by Senator Ted Cruz.

This legislative push aligns with recent actions by the Trump Administration to dismantle the CFPB. Acting CFPB Director and Office of Management and Budget (OMB) Director Russell Vought has directed the agency to cease all supervisory and examination activities, halted new funding requests from the Federal Reserve, and temporarily closed the CFPB’s headquarters.

Additionally, Treasury Secretary Scott Bessent has instructed the CFPB to suspend further legal actions and rulemaking processes, signaling a decisive move toward the agency’s dissolution.

Congressman Self emphasized the necessity of H.R. 814, stating, “The recent directives from the Trump administration affirm what American businesses, banks, and taxpayers know—that this burdensome bureaucratic agency is well past the point of meaningful reform. By including the Defund the CFPB Act in the reconciliation package, we can ensure that these actions have a lasting impact and restore accountability within our financial regulatory framework.”

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