119 S4684 IS: Protecting American Consumers Act U.S. Senate 2026-06-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 4684IN THE SENATE OF THE UNITED STATESJune 4, 2026Ms. 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 AffairsA BILLTo 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.

1.

Short title

This Act may be cited as the Protecting American Consumers Act.

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).