Establishes a compulsory funding floor for the Bureau of Consumer Financial Protection.
The Protecting American Consumers Act amends the Consumer Financial Protection Act of 2010 to set a compulsory funding floor for the Bureau of Consumer Financial Protection. Specifically, it mandates that the Bureau receive at least 12 percent of the total operating expenses of the Federal Reserve System each fiscal year. This change aims to ensure consistent and adequate funding for the Bureau's operations.
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