House Approves CFPB Oversight

When it was created,the Consumer Financial Protection Bureau (CFPB) budget was not put under Congressional control.  It is funded by the Federal Reserve.

The U.S. House wants to change that.  On July 19, the House approved H.R. 6147, a bill that puts Congress in control of the CFPB budget.  The vote was 217 for and 199 against.

The bill is now before the Senate.

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