NTEU Opposes Bills Targeting CFPB

Last week, the House Financial Services Committee reported out a bill (H.R. 2798) that would make CFPB subject to appropriations. When CFPB was created, Congress directed that its funding come from the Federal Reserve to protect its independence.

NTEU will strongly urge representatives to oppose H.R. 2798 if it comes before the full House for a vote.

In another attack against the CFPB, bills (S. 1363 and H.R. 2938) have been introduced by Sen. Ted Cruz (R-Texas) and Rep. Byron Donalds (R-Fla.) in both chambers to abolish the agency.

These extreme bills contain no provisions for the continued employment or “soft landing” of any current CFPB employee. In other words, a CFPB employee who was transferred from another agency to CFPB when it was created would have no right to return to their previous agency.

Learn how you can join us in standing up for the NTEU-represented employees who work to keep the financial system fair and open to everyone at nteu.org/NTEUAction.