Introduced in House
CFPB Budget Integrity Act
SEC. 1. SHORT TITLETrack this section →
This Act may be cited as the CFPB Budget Integrity Act.
SEC. 2. LIMITATION ON UNOBLIGATED BALANCES OF THE BUREAU OF CONSUMER FINANCIAL PROTECTIONTrack this section →
(a) In general Section 1017(a)(2) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)(2)) is amended by adding at the end the following new subparagraph: (D) Limitation on unobligated balances For a fiscal year, the amount of unobligated balances of the Bureau may not exceed 5 percent of the dollar amount referred to in subparagraph (A)(iii). The Director shall transfer any excess amount of such unobligated balances to the general fund of the Treasury.. (b) Report on use of unobligated balances Section 1017(e)(4) of such Act (12 U.S.C. 5497(e)(4)) is amended by inserting (including a description of the use of any unobligated balances) after funds of the Bureau.