Another Republican CFPB effort to subject the CFPB to the congressional appropriations policy took the form of an amendment to the Senate’s 2015 Budget Resolution introduced last week by Senator David Perdue. Earlier in March, Republican Congressman Sean Duffy introduced the Bureau of Consumer Financial Protection Accountability Act of 2015 (H.R. 1261) which is also directed at making the CFPB subject to the congressional appropriations process. (Dodd-Frank entitles the CFPB to receive annual funding through transfers from the Fed that are capped at a fixed percentage of the Fed’s total 2009 operating expenses.)
