This story appeared in Bank Digest.
Representative Andy Barr (R-Ky) has reintroduced the Taking Account of Bureaucrats' Spending (TABS) Act (H.R. 2553), which would make the budget of the Consumer Financial Protection Bureau subject to congressional appropriations. According to Barr's press release, the CFPB is currently funded directly by the Federal Reserve with no oversight and little transparency.
Barr said he was reintroducing the bill "because the Bureau deserves the same scrutiny and the same checks and balances as any other federal agency." He added, "Congressional oversight and accountability will ensure that the Bureau stays true to its mission of consumer protection, and avoids politically motivated overreaches, wasteful spending, and unnecessary regulations."