Summary: H.R.1486 — 114th Congress (2015-2016)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to House with amendment(s) (05/06/2016)

Taking Account of Bureaucrats' Spending Act of 2016 or the TABS Act of 2016

(Sec. 2) This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process.