House Financial Services Committee hears testimony on CFPB reform bill
The House Financial Services Committee convened a panel on the Consumer Financial Protection, Accountability, and Reform Act of 2026, focusing on placing the CFPB under annual appropriations, adding a senate‑confirmed inspector general, stronger evidence‑based rulemaking, supervisory thresholds, and clarifying the "abusive" standard.
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The House Committee on Financial Services held a public panel on the Consumer Financial Protection, Accountability, and Reform Act of 2026, where lawmakers and industry witnesses debated statutory changes intended to make the Consumer Financial Protection Bureau more accountable and predictable. Chairman Hill said the package aims to "bring greater accountability, clarity, and predictability to the Consumer Financial Protection Bureau while ensuring consumers have access to a competitive and innovative financial marketplace." (Chairman Hill)
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