Republican Senator David Perdue has introduced a bill, S.1383 entitled the ‘‘Consumer Financial Protection Bureau Accountability Act of 2015,” that would make the CFPB subject to the congressional appropriations process. Currently, pursuant to Dodd-Frank, the CFPB is entitled to receive automatic annual funding through transfers from the Fed that are capped at a fixed percentage of the Fed’s total 2009 operating expenses.

The introduction of the bill follows Senator Perdue’s attempt in March 2015 to make the CFPB subject to the congressional appropriations process through an amendment to the Senate’s 2015 Budget Resolution.