Section 1. Short title
This Act may be cited as the Defund the CFPB Act.
Section 2. Limiting funding of bureau of consumer financial protection
Section 1017(a) of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497(a)) is amended—
(1) in paragraph (1), by striking taking into account and all that follows through the period at the end and inserting which shall be not more than $0.;
(2) by striking paragraphs (2) and (3); and
(3) by redesignating paragraphs (4) and (5) as paragraphs (2) and (3), respectively.