This bill creates a new independent agency focused on consumer financial protection and changes how it gets its funding. It aims to empower consumers in financial matters.
Taking Account of Bureaucrats' Spending Act of 2025 or the TABS Act of 2025 This bill restructures the Consumer Financial Protection Bureau and renames it as the Consumer Financial Empowerment Agency. The new agency is established as an independent agency outside of the Federal Reserve System. The bill also changes the funding structure of the agency by prohibiting the transfer of funds to the agency from the Federal Reserve System and by authorizing congressional appropriations for FY2026-FY2027.
1. This bill changes the Bureau of Consumer Financial Protection into an independent agency. 2. The new agency will be called the Consumer Financial Empowerment Agency. 3. It will operate under a different funding process than before. 4. The President will appoint the head of the new agency. 5. All references to the old bureau will now refer to the new agency.
Consumers seeking protection from unfair financial practices will be directly affected by this change.