Consumer Financial Protection Accountability and Reform Act of 2026

Bill Number: H.R. 10184
Origin Chamber: House
Congress: 119th Congress, Session 2
Policy Area: Finance and Financial Sector
Status: Introduced
Latest Action: 2026-09-16: Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 21.
Last Updated: 2026-09-22T15:45:53Z

AI-Generated Summary

Purpose The bill reforms the Bureau of Consumer Financial Protection (the Bureau) to increase its accountability, transparency, and procedural fairness while promoting innovation in consumer financial markets and limiting certain enforcement practices. It adjusts the Bureau's governance, rulemaking processes, supervisory authority, and enforcement tools.

Key Provisions

Title I – Reforming Bureau Governance: Shifts the Bureau to the regular congressional appropriations process by removing its independent funding authority from the Federal Reserve. Modifies the Consumer Financial Civil Penalty Fund to limit payments to direct victims and transfer excess funds to the Treasury. Requires detailed cost-benefit analyses in rulemaking, including quantitative and qualitative assessments of impacts on small businesses, competition, and access to credit. Strengthens small business impact analyses under the Regulatory Flexibility Act. Mandates periodic reviews of major rules by the Office of Management and Budget (OMB) every eight years and non-major rules every ten years. Establishes an independent Inspector General for the Bureau.
Title II – Restoring Legal Clarity and Procedural Fairness: Defines "abusive" acts or practices more narrowly, requiring intentional interference with consumer understanding or unreasonable advantage-taking of consumer vulnerabilities. Limits the use of unfair, deceptive, or abusive acts or practices (UDAAP) authority to circumvent statutes of limitations. Defines "substantial injury" as concrete, quantifiable harm. Restores primary court authority over attorneys' litigation activities and clarifies that the Bureau lacks authority over discriminatory practices. Provides notice and opportunity to cure for self-identified violations. Restricts venue for certain enforcement actions.
Title III – Promoting Innovation in Consumer Financial Markets: Creates a safe harbor for small-dollar credit products offered by insured depository institutions and credit unions that meet specific structural, underwriting, and disclosure requirements. Requires guidance clarity statements on all new financial agency guidance. Directs a GAO study on buy-now-pay-later services. Establishes consumer protections and disclosure rules for earned wage access services, including no-cost options, voluntary tips, and limits on collection practices.
Title IV – Promoting Effective, Predictable Supervision: Raises the asset threshold for Bureau supervision of banks, savings associations, and credit unions from $10 billion to $30 billion, with periodic inflation adjustments. Allows covered institutions to elect prudential regulator supervision, subject to Bureau petition for transfer in cases of heightened consumer risk. Requires interagency coordination and comment on rulemakings affecting insured institutions. Limits nonbank supervision to activities directly related to specific consumer financial products or services.
Title V – Preventing Regulation by Enforcement: Reduces civil money penalty tiers and requires consideration of self-reporting and other mitigation factors. Prohibits using market monitoring data for enforcement actions. Limits state attorneys general from bringing certain actions if the Bureau has already acted on the same conduct. Indexes asset-based regulatory thresholds for inflation. Requires consumer attestation for complaints and allows covered persons to close duplicative, frivolous, or unauthorized complaints. Mandates confidentiality of complaint narratives. Requires rulemaking before deleting or modifying small business loan data for privacy reasons.

Significant Changes to Existing Law

Amends the Consumer Financial Protection Act of 2010 (Dodd-Frank) to alter Bureau funding, governance, UDAAP standards, and supervisory thresholds.
Modifies the Truth in Lending Act to add safe harbor provisions for small-dollar products.
Amends the Fair Debt Collection Practices Act and related provisions to exclude attorneys engaged in litigation from certain debt collection rules.
Updates the Equal Credit Opportunity Act regarding small business loan data privacy.
Introduces new limitations on state enforcement and Bureau penalty authority not present in prior law.

Potential Impacts

Government Agencies: The Bureau loses independent funding and gains an independent Inspector General and OMB oversight of rules. Prudential regulators and state regulators receive enhanced coordination and comment rights.
Citizens and Businesses: May increase access to small-dollar credit and earned wage access services through safe harbors and defined rules. Strengthens small business considerations in rulemaking. Could reduce certain consumer protections by narrowing UDAAP authority and limiting enforcement tools.
International Relations: No direct provisions or impacts identified in the legislation.

Main Stakeholders Affected

The Bureau of Consumer Financial Protection and its leadership.
Insured depository institutions, credit unions, and nonbank financial companies (particularly those near asset thresholds).
Small businesses and entities subject to Bureau rules.
Consumers using consumer financial products and services.
State banking and credit union regulators, prudential regulators (Federal Reserve, FDIC, OCC), and the Office of Management and Budget.
Attorneys and law firms engaged in debt collection or litigation.
Providers of small-dollar credit, buy-now-pay-later, and earned wage access services.

Notable Legal, Constitutional, or Political Implications

Raises separation-of-powers considerations by moving the Bureau to congressional appropriations and creating an independent Inspector General.
Narrows the Bureau's interpretive authority over "abusive" practices and limits alternative claims in enforcement actions.
Establishes new procedural requirements for rulemaking, enforcement, and complaint handling that could affect due process and administrative efficiency.
Includes severability guidance and explicit rules of construction favoring state insurance regulators and court oversight of attorneys.

This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.

Sponsor

Rep. Barr, Andy [R-KY-6]

Cosponsors (30)

Rep. Hill, J. French [R-AR-2], Rep. Lucas, Frank D. [R-OK-3], Rep. Sessions, Pete [R-TX-17], Rep. Huizenga, Bill [R-MI-4], Rep. Wagner, Ann [R-MO-2], Rep. Williams, Roger [R-TX-25], Rep. Emmer, Tom [R-MN-6], Rep. Loudermilk, Barry [R-GA-11], Rep. Davidson, Warren [R-OH-8], Rep. Rose, John W. [R-TN-6], Rep. Steil, Bryan [R-WI-1], Rep. Timmons, William R. [R-SC-4], Rep. Stutzman, Marlin A. [R-IN-3], Rep. Meuser, Daniel [R-PA-9], Rep. Kim, Young [R-CA-40], Rep. Donalds, Byron [R-FL-19], Rep. Garbarino, Andrew R. [R-NY-2], Rep. Fitzgerald, Scott [R-WI-5], Rep. Flood, Mike [R-NE-1], Rep. Lawler, Michael [R-NY-17], Rep. De La Cruz, Monica [R-TX-15], Rep. Nunn, Zachary [R-IA-3], Rep. McClain, Lisa C. [R-MI-9], Rep. Salazar, Maria Elvira [R-FL-27], Rep. Downing, Troy [R-MT-2], Rep. Haridopolos, Mike [R-FL-8], Rep. Moore, Tim [R-NC-14], Rep. Norman, Ralph [R-SC-5], Rep. Ogles, Andrew [R-TN-5], Rep. Calvert, Ken [R-CA-41]

Recent Actions

2026-09-16: Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 21.
2026-09-16: Committee Consideration and Mark-up Session Held
2026-08-31: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2026-08-31: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2026-08-31: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2026-08-31: Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Small Business, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2026-08-31: Introduced in House
2026-08-31: Introduced in House

Bill Versions

Consumer Financial Protection Accountability and Reform Act of 2026 — issued 2026-08-31 — PDF (99 pages)