Federal SB4684 establishes a compulsory funding floor for the Bureau of Consumer Financial Protection.

Federal SB4684, known as the Protecting American Consumers Act, amends the Consumer Financial Protection Act of 2010 to ensure the Bureau of Consumer Financial Protection receives a minimum funding level. Specifically, it mandates that the Bureau's annual funding be at least 12 percent of the Federal Reserve System's total operating expenses, as reported in the 2009 Annual Report of the Board of Governors. This change aims to secure consistent and adequate resources for the Bureau to effectively protect consumers.

Federal SB4684 establishes a compulsory funding floor for the Bureau of Consumer Financial Protection.

Federal SB4684, known as the Protecting American Consumers Act, amends the Consumer Financial Protection Act of 2010 to ensure the Bureau of Consumer Financial Protection receives a minimum funding level. Specifically, it mandates that the Bureau's annual funding be at least 12 percent of the Federal Reserve System's total operating expenses, as reported in the 2009 Annual Report of the Board of Governors. This change aims to secure consistent and adequate resources for the Bureau to effectively protect consumers.