Consumer Financial Protection Bureau Accountability Act of 2024

Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended—

(1) in subsection (a)—

(A) in the subsection heading, by striking “ Transfer of Funds From Board Of Governors.— ” and inserting Budget and Financial Management.—;

(B) by striking paragraphs (1) through (3);

(C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and

(D) in paragraph (1), as so redesignated—

(i) in the paragraph heading, by striking Budget and financial management.— and inserting In general.—;

(ii) by striking subparagraph (E); and

(iii) by redesignating subparagraph (F) as subparagraph (E);

(2) by striking subsections (b) and (c);

(3) by redesignating subsections (d) and (e) as subsections (b) and (c), respectively;

(4) in subsection (b), as so redesignated—

(A) in paragraph (2)—

(i) in the first sentence, by inserting direct before victims; and

(ii) by striking the second sentence; and

(B) by adding at the end the following:; and

If, after the Bureau obtains a civil penalty in a judicial or administrative action under Federal consumer financial laws, deposits that civil penalty into the Civil Penalty Fund under paragraph (1), and, under paragraph (2), makes payments to all of the direct victims of activities for which that civil penalty was imposed, amounts remain in the Civil Penalty Fund with respect to that civil penalty, the Bureau shall transfer those excess amounts to the general fund of the Treasury.

(5) in subsection (c), as so redesignated—

(A) by striking paragraphs (1) through (3) and inserting the following:; and

There is authorized to be appropriated such funds as may be necessary to carry out this title for fiscal year 2026.

(B) by redesignating paragraph (4) as paragraph (2).

The amendments made by this section shall take effect on October 1, 2025.