AFSA’s CFPB Feedback
AFSA has compiled and sent member comments to the House Financial Services Committee, which solicited feedback on its draft legislation, the CFPB Reform Act of 2026. While there have been recent, positive changes at the Consumer Financial Protection Bureau, the Committee is seeking to make some of the changes more permanent and less likely to drastically change when a different Administration is in the White House.
The legislation contains many pro-consumer provisions that AFSA has long supported, including placing the Bureau under the appropriations process and seating a separate Inspector General at the CFPB.
The bill has five sections:
- Reforming Bureau Governance;
- Restoring Legal Clarity and Procedural Fairness;
- Promoting Innovation in Consumer Financial Markets;
- Promoting Effective, Predictable Supervision;
- and Preventing Regulation by Enforcement.
These sections contain language that AFSA and its Member Companies support. In particular, members gave several suggestions on improving the Unfair, Deceptive, and Abusive Acts and Practices section, as well as preventing regulation by enforcement.
August 27th, 2026
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