Restructures the Consumer Financial Protection Bureau's funding, rulemaking, enforcement, and supervision, and narrows its authority to treat business practices as unfair or abusive.

• Brings the Bureau's funding into the regular appropriations process, creates an Inspector General position for the Bureau, and sends civil penalty money left over after victim payments to the general fund of the Treasury.
• Defines substantial injury and abusive acts, bars the Bureau from bringing abusive-practice actions until a final rule defining the term takes effect, and requires the Bureau to give companies 180 days to cure self-identified violations before enforcement.
• Requires the OMB Director to review major Bureau rules within 8 years, and requires cost-benefit analysis and small business impact review in Bureau rulemaking.
• Raises the small-dollar loan safe harbor to $3,500, requires earned wage access providers to offer a no-cost option, and lowers the second-tier civil penalty cap from $1,000,000 to $50,120.

• Oversight and Government Reform Committee (House)
• Small Business Committee (House)
• Judiciary Committee (House)
• Financial Services Committee (House)

Finance and Financial Sector