TABS Act of 2025
Summary
What This Bill Does
The TABS Act amends the Consumer Financial Protection Act and related consumer-finance laws to replace the Bureau of Consumer Financial Protection name with the Consumer Financial Empowerment Agency. It removes language placing the agency in the Federal Reserve System, treats legal references to the CFPB as references to the renamed agency, and updates Dodd Frank, mortgage, Truth in Lending, Equal Credit Opportunity, Fair Credit Reporting, Electronic Fund Transfer, Gramm Leach Bliley, RESPA, SAFE Act, and other statutory references. The bill then rewrites the CFPB funding provision by removing the Federal Reserve transfer structure and authorizing such sums as necessary through the annual appropriations process for fiscal years 2026 and 2027.
Who Benefits and How
Congressional appropriators benefit because the consumer-finance regulator would depend on annual appropriations rather than automatic Federal Reserve transfers. Financial institutions benefit from stronger congressional budget oversight of the regulator that examines and enforces consumer-finance laws. Consumers benefit if the renamed agency continues consumer-finance functions with clearer congressional accountability. Agency leadership benefits from a statutory transition path that keeps references to the CFPB legally operative under the new agency name.
Who Bears the Burden and How
Consumer Financial Empowerment Agency staff must update legal references, documents, systems, and public materials. Agency leadership must operate under annual appropriations for fiscal years 2026 and 2027 rather than the prior transfer mechanism. Congressional appropriations committees must decide funding levels. Financial institutions remain subject to the renamed regulator and must track name and process changes. Federal Reserve transfer administrators lose the prior CFPB funding role.
Key Provisions
- Renames the Bureau of Consumer Financial Protection as the Consumer Financial Empowerment Agency.
- Updates statutory references across consumer-finance laws so CFPB references point to the renamed agency.
- Removes language placing the agency in the Federal Reserve System.
- Requires the agency to rely on regular appropriations instead of the Federal Reserve transfer mechanism.
- Authorizes such sums as necessary for fiscal years 2026 and 2027.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Renames the CFPB as the Consumer Financial Empowerment Agency, restructures its legal references, removes its Federal Reserve funding pathway, and places the agency in the regular appropriations process for fiscal years 2026 and 2027.
Key Policy Areas
Financial Regulation, Appropriations, Consumer Finance
Primary Purpose
Renames the CFPB as the Consumer Financial Empowerment Agency, restructures its legal references, removes its Federal Reserve funding pathway, and places the agency in the regular appropriations process for fiscal years 2026 and 2027.
Policy Domains
Substantive provisions
Identified Gains
- Congressional appropriators
- Financial institutions
- Consumers using financial products
- Consumer Financial Empowerment Agency leadership
Identified Costs
- Consumer Financial Empowerment Agency staff
- Congressional appropriations committees
- Financial institutions
- Federal Reserve transfer administrators
- Agency budget officers
Sponsors
Legislative Progress
In CommitteeMr. Barr introduced the following bill; which was referred to …
Referred to the House Committee on Financial Services.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Agency budget officers, Congressional appropriations committees, Consumer Financial Empowerment Agency staff
Positive-direction: Congressional appropriations committees
Negative-direction: Agency budget officers, Consumer Financial Empowerment Agency staff, Federal Reserve transfer administrators
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "agencies"
- → ['Consumer Financial Empowerment Agency', 'Federal Reserve', 'Congress']
- "industry"
- → ['Financial institutions']
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology