H.R. 10184
Consumer Financial Protection Accountability and Reform Act of 2026
Summary:
• The bill, titled the "Consumer Financial Protection Accountability and Reform Act of 2026," reforms the Bureau of Consumer Financial Protection (Bureau) by subjecting it to the regular congressional appropriations process, creating a dedicated Inspector General, requiring extensive cost-benefit analyses for rulemakings, and establishing OMB oversight reviews of Bureau rules.
• The bill restricts Bureau enforcement authority by defining "abusive acts or practices," limiting statutes of limitations, capping civil money penalties, restricting market monitoring powers, and prohibiting State attorneys general from bringing duplicate enforcement actions when the Bureau has already acted.
• The bill establishes new consumer financial product rules, including a safe harbor for small-dollar credit products, consumer protections and disclosure requirements for earned wage access services, and raises the asset threshold for Bureau supervision of banks and credit unions from $10 billion to $30 billion.
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• The bill restricts Bureau enforcement authority by defining "abusive acts or practices," limiting statutes of limitations, capping civil money penalties, restricting market monitoring powers, and prohibiting State attorneys general from bringing duplicate enforcement actions when the Bureau has already acted.
• The bill establishes new consumer financial product rules, including a safe harbor for small-dollar credit products, consumer protections and disclosure requirements for earned wage access services, and raises the asset threshold for Bureau supervision of banks and credit unions from $10 billion to $30 billion.
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