Consumer Financial Protection Bureau Withdrawal Cap Adjustment Act of 2024

This bill would limit the Consumer Financial Protection Bureau's (CFPB) annual funding to exactly $1, effectively defunding the agency. It amends the 2010 law governing the CFPB by replacing the standard funding mechanism - where the Director sets a budget based on operational needs - with a fixed $1 amount. This change directly affects the CFPB's ability to operate, as $1 is insufficient for any meaningful regulatory or enforcement activities. The bill does not create new regulations but would halt the agency's current operations by removing its primary funding source.