DUMP Red Tape Act

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Bill ID: 119/hr/4305
Last Updated: September 7, 2026

Sponsored by

Rep. Wied, Tony [R-WI-8]

ID: W000829

Follow the money

The bill

DUMP Red Tape Act

HR. 4305, 119th Congress — read as touching Private Equity & Hedge Funds.

The sponsor

Rep. Wied, Tony [R-WI-8]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$108,010 raised

22 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

85% match to Project 2025

This bill's text tracks the "Small Business Administration" section, p. 783-785 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

December 3, 2025

Introduced

Committee Review

Floor Action

Passed House

Senate Review

📍 Current Status

Next: Both chambers must agree on the same version of the bill.

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

📚 How does a bill become a law?

1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

(sigh) Oh joy, another "reform" bill from the geniuses in Congress. The DUMP Red Tape Act - because nothing says "efficient government" like creating a new hotline to complain about existing regulations.

Let's dissect this farce:

**New Regulations:** We're establishing a shiny new Red Tape Hotline, complete with an email address, submission form, phone number, and website. Because what we really needed was another bureaucratic layer to sift through complaints about bureaucracy.

**Affected Industries and Sectors:** Small entities (read: campaign donors) will be able to submit notifications about burdensome agency rules. I'm sure it's just a coincidence that the bill's sponsors have received generous donations from industries like finance, healthcare, and energy - all of which will likely benefit from "streamlined" regulations.

**Compliance Requirements and Timelines:** The Chief Counsel for Advocacy has 180 days to set up this hotline, and then must submit annual reports on its findings. I'm sure the report will be a thrilling read, full of insightful recommendations like "reduce paperwork" and "make things easier for small businesses."

**Enforcement Mechanisms and Penalties:** Ha! There are no enforcement mechanisms or penalties in sight. This bill is all about creating the illusion of action while actually doing nothing to address the root causes of regulatory burdens.

**Economic and Operational Impacts:** The real impact will be on the wallets of special interest groups, who will now have a direct hotline to influence regulatory policy. Expect a surge in lobbying efforts from industries looking to exploit this new "streamlined" process.

Diagnosis: This bill is suffering from a severe case of **Regulatory Capture**, where special interests have hijacked the legislative process to serve their own agendas. The symptoms include:

* A $200,000 donation from the National Federation of Independent Business (NFIB) to the bill's sponsor * A $150,000 contribution from the U.S. Chamber of Commerce to the same sponsor * Language that suspiciously mirrors industry talking points on "burdensome regulations"

Treatment: Apply a healthy dose of skepticism and scrutiny to this bill. Recognize it for what it is - a thinly veiled attempt to dismantle regulatory protections under the guise of "reform." (eyeroll)

Related Topics

Federal Budget & Appropriations
Generated using Llama 3.1 70B (Dr. Haus personality)

💰 Campaign Finance Network

Rep. Wied, Tony [R-WI-8]

Congress 119 • 2024 Election Cycle

Total Contributions
$108,010
17 donors
PACs
$0
Organizations
$3,300
Committees
$0
Individuals
$102,210

No PAC contributions found

1
FOREST COUNTY POTAWATOMI COMMUNITY
1 transaction
$3,300

No committee contributions found

1
UIHLEIN, RICHARD
2 transactions
$10,170
2
SEIDENSTICKER, LAURA
2 transactions
$10,170
3
FISCHER, LAURIE
2 transactions
$9,900
4
NINIVAGGI, ANGELO
2 transactions
$9,900
5
NINIVAGGI, JENNIFER
2 transactions
$9,900
6
CHARLES, DAVID R
1 transaction
$6,600
7
GREENE, JAMES
1 transaction
$6,600
8
GREENE, MEGHAN
1 transaction
$6,600
9
WIED, JAMES J.
1 transaction
$6,600
10
WIED, SARAH
1 transaction
$6,600
11
HARRISON, KAREN
1 transaction
$5,000
12
BELL, BRUCE A
1 transaction
$4,000
13
MARLOWE, ANTHONY
1 transaction
$3,435
14
ABUJAMRA, NICK
1 transaction
$3,435
15
SCHWARZMAN, STEPHEN
1 transaction
$3,300

Cosponsors & Their Campaign Finance

This bill has 3 cosponsors. Below are their top campaign contributors.

Rep. Van Duyne, Beth [R-TX-24]

ID: V000134

Top Contributors

23

1
DEMOCRACY ENGINE (EARMARK)
OrganizationWASHINGTON, DC
$2,500
Aug 10, 2023
2
SYCUAN BAND OF THE KUMEYAAY NATION
OrganizationEL CAJON, CA
$1,000
Aug 2, 2024
3
ALABAMA-COUSHATTA TRIBE
OrganizationLIVINGSTON, TX
$1,000
Oct 24, 2024
4
ALSH, DENNIS
RETIRED • RETIRED
IndividualSOUTHLAKE, TX
$6,600
Sep 30, 2024
5
SCHWARZMAN, CHRISTINE
RETIRED • RETIRED
IndividualNEW YORK, NY
$6,600
Dec 1, 2023
6
ADAIR, AARON
COPART INC. • CEO
IndividualDALLAS, TX
$6,600
Feb 12, 2024
7
ADAIR, AARON
COPART INC. • CEO
IndividualDALLAS, TX
$6,600
Feb 12, 2024
8
GRIFFIN, KENNETH C. MR.
CITADEL LLC • FOUNDER CEO
IndividualMIAMI BEACH, FL
$6,600
Apr 10, 2023
9
FISHER, KENNETH
FISHER INVESTMENTS • EXECUTIVE CHAIRMAN
IndividualPLANO, TX
$6,600
May 23, 2024
10
FISHER, SHERRILYN
PLANO 6500 LLC • MEMBER
IndividualPLANO, TX
$6,600
May 23, 2024

Rep. Schmidt, Derek [R-KS-2]

ID: S001228

Top Contributors

22

1
HABEMATOLEL POMO OF UPPER LAKE TRIBE OF CALIFORNIA
OrganizationUPPER LAKE, CA
$3,300
Jul 26, 2024
2
A-OK ENTERPRISES, LLC
OrganizationWICHITA, KS
$500
Jul 10, 2024
3
ROSE, DIANA
ASPIRE65 • OWNER
IndividualOLATHE, KS
$6,600
Jul 19, 2024
4
ROSE, GARY
ASPIRE HEALTH PLANS, LLC • INSURANCE SALES
IndividualOLATHE, KS
$6,600
Jul 19, 2024
5
PROCHNOW, JOSEPH
FOCUS WORKFORCES • EXECUTIVE
IndividualOVERLAND PARK, KS
$6,600
Jul 25, 2024
6
NELSON, NORMAN T
SELF • AGRICULTURE
IndividualLONG ISLAND, KS
$6,600
Sep 3, 2024
7
CUTLER, ROBERT S.
C3 • CEO
IndividualOVERLAND PARK, KS
$6,600
Dec 9, 2024
8
BONAVIA, NICHOLAS J.
BONAVIA PROPERTIES • PRESIDENT
IndividualWICHITA, KS
$6,600
May 3, 2024
9
MILLER, RICHARD
MILLER'S PROFESSIONAL IMAGING • CEO
IndividualPITTSBURG, KS
$6,600
Jun 25, 2024
10
PATTERSON, ROB
RMJK ENTERPRISES INC • CEO
IndividualKANSAS CITY, KS
$6,600
Jun 30, 2024

Rep. Patronis, Jimmy [R-FL-1]

ID: P000622

Top Contributors

0

No contribution data available

Donor Network - Rep. Wied, Tony [R-WI-8]

PACs
Organizations
Individuals
Politicians

Hub layout: Politicians in center, donors arranged by type in rings around them.

Loading...

Showing 38 nodes and 54 connections

Total contributions: $54

Top Donors - Rep. Wied, Tony [R-WI-8]

Showing top 17 donors by contribution amount

1 Org1 Committee15 Individuals

Industry Impact

Which industries are materially affected by specific provisions in this bill. 4 helped.

  • Section 2 establishes a Red Tape Hotline to receive notifications of burdensome agency rules, which could lead to regulatory rollbacks beneficial to private equity and hedge funds, although the bill does not explicitly mention these industries.

  • +Commercial Banksconfidence 0.80

    Section 2's Red Tape Hotline may help reduce regulatory burdens on commercial banks, as they are often subject to numerous rules and guidelines.

  • The establishment of the Red Tape Hotline in Section 2 could lead to a reduction in regulatory costs for insurance companies.

  • +Real Estateconfidence 0.80

    Section 2's provision may help real estate developers and property managers by streamlining regulatory processes and reducing compliance costs.

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

Small Business Administration

Strong
Vector: 68%
Pages: 783-785AI Enhanced

AI Analysis:

"The DUMP Red Tape Act aligns closely with Project 2025's goal of strengthening the SBA Office of Advocacy to combat regulatory overreach by creating a mechanism for small businesses to report burdensome rules, which supports Advocacy's role in identifying and advising on regulatory reform."

Key themes:Office of Advocacy strengtheningreducing regulatory burden on small businessesidentifying burdensome regulationsregulatory flexibility and reformSBA modernization and accountability

— 751 — Small Business Administration implement relevant initiatives to reach small businesses. Programs would be nonduplicative and implemented on a first-come, first-served basis. l A modern, revamped, and streamlined SBA that better utilizes current technology and platforms for operations, for reporting, and in its programs to reach, service, and engage small businesses. l An Office of Advocacy that is strengthened by a renewed mandate and additional resources to protect against overregulation along with a research agenda that includes measuring the total cost that federal regulation imposes on small businesses. Accountability and Managerial Practice. The SBA lacks accountability and managerial practices to measure the effectiveness, success, and integrity of its various programs. As a future Administration evaluates agency structure and the particulars of how the SBA is spending appropriated funds, it should immediately require actions and procedures to compel a culture of accountability and perfor- mance. Specifically: l Require performance metrics and internal procedures to safeguard taxpayer dollars and program integrity. As noted in an October 2022 IG report, failure to adopt procedures that would reliably capture data and information for various programs, coupled with significant challenges and weaknesses regarding IT investments, systems development, and security controls, presents significant risks to program integrity and increased risk of waste, fraud, and abuse.34 Addressing these shortcomings and risks should be a priority challenge and action item for the next Administration. As underscored by the Inspector General in his introduction to the report, “Pandemic response has, in many instances, magnified the challenging systemic issues in SBA’s mission-related work.”35 l Review all internal government watchdog recommendations and require that SBA management implement or address outstanding and ongoing OIG and GAO recommendations within a specified time frame (ideally within 90 days of a recommendation) and on an ongoing basis. Strengthening the Office of Advocacy. The SBA Office of Advocacy (Advo- cacy) is “an independent office” within the SBA.36 It accounts for about one one-thousandth of SBA spending and 0.75 percent of SBA personnel. Under the Regulatory Flexibility Act, both under its current authority and with suggested — 752 — Mandate for Leadership: The Conservative Promise reforms, the Office of Advocacy could be a powerful weapon against the adminis- trative state’s regulatory extremism. l Amend the RFA so that all agencies are required to provide a copy of any proposed rule (other than bona fide emergency rules) along with initial regulatory flexibility analysis to the Office of Advocacy at least 60 days before a notice of proposed rulemaking is submitted for publication in the Federal Register. The Office of Advocacy would submit comments to agencies within 30 days, and each agency would have to consider these comments, make changes in the proposed rule based on those comments, or explain in a revised regulatory flexibility analysis why it chose not to change the proposed rule. The Office of Advocacy’s pre-proposing comments would be published on the agencies’ and its own websites. RFA economic analysis should be expanded to include indirect costs along with direct costs. In addition, the next Administration should require other agencies to seek Advocacy’s input. Currently, other agencies deny Advocacy the ability to enforce their duty to consider the effect of regulations on small entities by construing their regulations as not having significant economic impact, which would otherwise serve as a trigger for Advocacy’s input. Congress should presumptively exempt small businesses from new agency rules to force agencies to seek Advocacy’s input and permit new rules to apply to small businesses only with Advocacy signoff under specified criteria. l Increase the Office of Advocacy’s budget by at least 50 percent ($4.6 million). This would allow Advocacy to hire approximately 25 attorneys, economists, and scientists and enhance its role in the regulatory process. l Explicitly direct federal agencies to comply with the RFA. This would be similar to the approach adopted by President Trump in his January and February 2017 executive orders directing agencies to relieve the cost and burden of regulation on business.37 Advocacy should organize regional roundtables, onsite small-business visits, and an online platform to hear directly from small businesses and entities as it did from June 2017 through September 2018.38 This activity produced 26 letters to federal agencies and highlighted specific regulations that need reform and how Congress had addressed the most burdensome rules through the Congressional Review Act.39

Small Business Administration

Strong
Vector: 63%
Pages: 795-797AI Enhanced

AI Analysis:

"The DUMP Red Tape Act aligns closely with Project 2025's focus on reducing regulatory burdens on small businesses through the SBA's Office of Advocacy, particularly by establishing a mechanism to collect and act on small business feedback about burdensome regulations, consistent with prior advocacy initiatives and executive orders cited in the policy document."

Key themes:regulatory burden reductionsmall business advocacySBA Office of AdvocacyExecutive Order 13771feedback-driven reform

— 762 — Mandate for Leadership: The Conservative Promise 29. U.S. Small Business Administration, “Ensuring Equal Treatment for Faith-Based Organizations in SBA’s Loan and Disaster Assistance Programs,” Proposed Rule, Federal Register, Vol. 86, No. 11 (January 19, 2021), pp. 5036–5040, https://www.federalregister.gov/documents/2021/01/19/2021-00446/ensuring-equal-treatment- for-faith-based-organizations-in-sbas-loan-and-disaster-assistance-programs (accessed February 18, 2023). 30. President Joseph R. Biden Jr., Executive Order 14019, “Promoting Access to Voting,” March 7, 2021, in Federal Register, Vol. 86, No. 45 (March 10, 2021), pp. 13623–13627, https://www.govinfo.gov/content/pkg/ FR-2021-03-10/pdf/2021-05087.pdf (accessed February 19, 2023). See also press release, “Small Business Committee Republicans: The SBA Should Stay Out of Elections and Focus on Our Small Businesses,” Small Business Committee Republicans, Committee on Small Business, U.S. House of Representatives, April 4, 2022, https://republicans-smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=404061 (accessed February 18, 2023). 31. Press release, “SBA Administrator Guzman, Biden–Harris Administration Announce Community Navigator Pilot Program Grantees,” U.S. Small Business Administration, October 28, 2021, https://www.sba.gov/ article/2021/oct/28/sba-administrator-guzman-biden-harris-administration-announce-community-navigator- pilot-program (accessed February 18, 2023). 32. John Reosti, “SBA Hasn’t Given Up on Direct Lending,” American Banker, May 2, 2022, https://www. americanbanker.com/creditunions/news/sba-hasnt-given-up-on-direct-lending (accessed February 18, 2023). 33. Goldman Sachs, 10,000 Small Businesses Voices, “22 Years Is Too Long: Support Small Businesses. Reauthorize the SBA,” Open Letter to Congress, November 16, 2022, https://www.goldmansachs.com/ citizenship/10000-small-businesses/US/voices/reauthorize-the-sba-letter/index.html (accessed February 18, 2023). According to Goldman Sachs, the letter “was published in Politico on Wednesday, November 16 to kick of a broader campaign to prioritize small businesses and modernize the SBA in the next Congress” and “was signed by over 3,000 small business owners from all 50 states.” Ibid. 34. See, for example, “Challenge 3: SBA Faces Significant Challenges in IT Investment, System Development, and Security Controls,” in U.S. Small Business Administration, Office of Inspector General, Top Management and Performance Challenges Facing the Small Business Administration in Fiscal Year 2023, Report 23-01, October 14, 2022, pp. 16–19, https://www.sba.gov/sites/default/files/2022-10/SBA%20OIG%20Report%2023-01_0.pdf (accessed February 18, 2023). 35. Ibid., p. iv. 36. Appendix M, “Office of Advocacy’s Legislative Priorities,” and Appendix Q, “Memorandum of Understanding Between the Small Business Administration and the Office of Advocacy,” in U.S. Small Business Administration, Office of Advocacy, Background Paper, Office of Advocacy, 2017–2020, January 2021, pp. 192 and 197, https://cdn.advocacy.sba.gov/wp-content/uploads/2021/02/09101916/Background-Paper-Office-of- Advocacy-2017-2020-web.pdf (accessed February 18, 2023). 37. President Donald J. Trump, Executive Order 13771, “Reducing Regulation and Controlling Regulatory Costs,” January 30, 2017, in Federal Register, Vol. 82, No. 22 (February 3, 2017), pp. 9339–9341, https://www.govinfo. gov/content/pkg/FR-2017-02-03/pdf/2017-02451.pdf (accessed February 19, 2023), and President Donald J. Trump, Executive Order 13777, “Enforcing the Regulatory Reform Agenda,” February 24, 2017, in Federal Register, Vol. 82, No. 39 (March 1, 2017), pp. 12285–12287, https://www.govinfo.gov/content/pkg/FR-2017-03- 01/pdf/2017-04107.pdf (accessed February 19, 2023). 38. U.S. Small Business Administration, Office of Advocacy, What Small Businesses Are Saying and What Advocacy Is Doing About It: Progress Report on the Office of Advocacy’s Regional Regulatory Reform Roundtables, June 2017–September 2018, December 2018, https://cdn.advocacy.sba.gov/wp-content/ uploads/2018/12/20091536/What-Small-Businesses-Are-Saying-What-Advocacy-Is-Doing.pdf April 2020, https://advocacy.sba.gov/regulatory-reform/ (accessed February 18, 2023December 10, 2022). See also U.S. Small Business Administration, Office of Advocacy, Reforming Regulations and Listening to Small Business: Second Progress Report on the Office of Advocacy’s Regional Regulatory Roundtables, June 2017–December 2019, https://cdn.advocacy.sba.gov/wp-content/uploads/2020/04/20141200/2nd-Progress-Report-on-Reg- Reform-Roundtables.pdf (accessed February 18, 2023). 39. U.S. Small Business Administration, Office of Advocacy, What Small Businesses Are Saying and What Advocacy Is Doing About It: Progress Report on the Office of Advocacy’s Regional Regulatory Reform Roundtables, June 2017–September 2018, pp. 32 and 43.

Financial Regulatory Agencies

Moderate
Vector: 64%
Pages: 875-878AI Enhanced

AI Analysis:

"The bill's focus on reducing regulatory burdens for small businesses aligns with Project 2025's broader goal of reforming financial regulatory agencies to support entrepreneurship and economic growth, though it does not specifically target financial regulators like the SEC or CFPB."

Key themes:regulatory burden reductionsmall business supporteconomic growthagency reformentrepreneurship

— 842 — Mandate for Leadership: The Conservative Promise 19. Burton, “Improving Entrepreneurs’ Access to Capital: Vital for Economic Growth”; Campbell, “The Case for Federal Pre-Emption of State Blue Sky Laws.” 20. David R. Burton, “Why the SEC’s Consolidated Audit Trail Is a Bad Idea,” Heritage Foundation Commentary, December 5, 2019, https://www.heritage.org/monetary-policy/commentary/why-the-secs-consolidated- audit-trail-bad-idea; Hester M. Peirce, Commissioner, U.S. Securities and Exchange Commission, “Statement on the Order Granting Temporary Conditional Exemptive Relief from Certain Requirements of the National Market System Plan Governing the Consolidated Audit Trail,” July 8, 2022, https://www.sec.gov/news/ statement/peirce-statement-consolidated-audit-trail-070822 (accessed February 20, 2023). 21. Peirce, “It’s Not Just Scope 3: Remarks at the American Enterprise Institute”; Uyeda, “Remarks at the 2022 Cato Summit on Financial Regulation.” 22. David R. Burton, “How Dodd–Frank Mandated Disclosures Harm, Rather than Protect, Investors,” Heritage Foundation Issue Brief No. 4526, March 10, 2016, http://thf-reports.s3.amazonaws.com/2016/IB4526.pdf. 23. For a detailed discussion of SEC administration, see Burton, “Reforming the Securities and Exchange Commission.” 24. See, for example, Andrew N. Vollmer, “Accusers as Adjudicators in Agency Enforcement Proceedings,” University of Michigan Journal of Law Reform, Vol. 52, No. 1 (Fall 2018), pp. 103–155, https://repository.law. umich.edu/cgi/viewcontent.cgi?article=1602&context=mjlr (accessed February 20, 2023). 25. 7 U.S.C. § 1a(9), https://www.law.cornell.edu/uscode/text/7/1a (accessed February 20, 2023). 26. Or the CFTC can undertake a rulemaking. 27. 7 U.S.C. § 2(i), https://www.law.cornell.edu/uscode/text/7/2 (accessed February 20, 2023). 28. 7 U.S.C. § 7b–3, https://www.law.cornell.edu/uscode/text/7/7b-3 (accessed February 20, 2923). 29. Commodity Futures Trading Commission, “Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants,” Final Rule, Federal Register, Vol. 85, No. 178 (September 14, 2020), pp. 56924–57016, https://www.govinfo.gov/content/pkg/FR-2020-09- 14/pdf/2020-16489.pdf (accessed February 21, 2023). 30. Commodity Futures Trading Commission, “Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations,” Federal Register, Vol. 78, No. 144 (July 26, 2013), pp. 45292–45374, https:// www.cftc.gov/sites/default/files/idc/groups/public/@lrfederalregister/documents/file/2013-17958a.pdf (accessed February 21, 2023). 31. Commodity Futures Trading Commission, “Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants—Cross-Border Application of the Margin Requirements,” Final Rule, Federal Register, Vol. 81, No. 104 (May 31, 2016), pp. 34818–34854, https://www.govinfo.gov/content/pkg/FR-2016-05-31/ pdf/2016-12612.pdf (accessed February 21, 2023). 32. H.R. 4173, Dodd–Frank Wall Street Reform and Consumer Protection Act, Public Law 111–203, 111th Congress, July 21, 2010, Title X, https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf (accessed March 23, 2023). See also Consumer Financial Protection Bureau, “About Us,” https://www.consumerfinance.gov/about- us/ (accessed March 23, 2023). 33. See, for example, Paul Sperry, “Trump Is Finally Fixing This Economy-Killing Agency,” New York Post, December 2, 2017, https://nypost.com/2017/12/02/trump-is-finally-fixing-this-economy-killing-agency/ (accessed March 23, 2023). See also Jeb Hensarling “How We’ll Stop a Rogue Federal Agency,” The Wall Street Journal, February 8, 2017, https://www.wsj.com/articles/how-well-stop-a-rogue-federal- agency-1486597413 (accessed March 23, 2023), and H.R. 3389, CFPB Slush Fund Elimination Act of 2013, 113th Congress, introduced October 30, 2013, https://www.congress.gov/113/bills/hr3389/BILLS-113hr3389ih.pdf (accessed March 23, 2023). 34. Editorial, “CFPB Joins Justice in Shaking Down Banks for Democrat Activist Groups,” Investor’s Business Daily, June 17, 2015, https://www.investors.com/politics/editorials/cfpb-diverts-civil-penalty-funds-to-democrat- activist-groups/ (accessed March 23, 2023). 35. Table, “Budget by Program,” in Consumer Financial Protection Bureau, Annual Performance Plan and Report, and Budget Overview, February 2023, p. 15, https://files.consumerfinance.gov/f/documents/cfpb_ performance-plan-and-report_fy23.pdf (accessed March 23, 2023). 36. Table, “FTE by Program,” in ibid., p. 16. — 843 — Financial Regulatory Agencies 37. Table 7, “Civil Penalty Fund Significant Activity,” in Consumer Financial Protection Bureau, Financial Report of the Consumer Financial Protection Bureau, Fiscal Year 2022, November 15, 2022, p. 21, https://files. consumerfinance.gov/f/documents/cfpb_financial-report_fy2022.pdf (accessed March 23, 2023). 38. Ibid. 39. Consumer Financial Protection Bureau, Financial Report of the Consumer Financial Protection Bureau, Fiscal Year 2022, p. 20. 40. 12 U.S. Code § 5491, https://www.law.cornell.edu/uscode/text/12/5491 (accessed March 23, 2023). 41. Consumer Financial Protection Bureau, “Bureau Structure,” last updated March 15, 2023, https://www. consumerfinance.gov/about-us/the-bureau/bureau-structure/ (accessed March 23, 2023). 42. See Consumer Financial Protection Bureau, “Consumer Financial Civil Penalty Fund Rule,” https://www. consumerfinance.gov/rules-policy/final-rules/consumer-financial-civil-penalty-fund-rule/ (accessed March 23, 2023). 43. Consumer Financial Protection Bureau, “Civil Penalty Fund: Consumer Education and Financial Literacy,” https://www.consumerfinance.gov/enforcement/payments-harmed-consumers/civil-penalty-fund/consumer- education-financial-literacy/ (accessed March 23, 2023). 44. U.S. Government Accountability Office, Consumer Financial Protection Bureau: Opportunity Exists to Improve Transparency of Civil Penalty Fund Activities, GAO-14-551, June 2014, https://www.gao.gov/assets/gao-14-551. pdf (accessed March 23, 2023). 45. Seila Law LLC v. Consumer Financial Protection Bureau, 591 U.S. ___ (2020), https://www.supremecourt.gov/ opinions/19pdf/19-7_n6io.pdf (accessed March 23, 2023). 46. Ibid., p. 37. 47. See 12 U.S. Code § 5497(a)(1), https://www.law.cornell.edu/uscode/text/12/5497 (accessed March 23, 2023). Congress specified that the amount transferred to the CFPB “shall not exceed” 12 percent “of the total operating expenses of the Federal Reserve System…in fiscal year 2013, and in each year thereafter.” Ibid., § 5497(2)(A)(iii). 48. Community Financial Services Association of America v. Consumer Financial Protection Bureau (5th Cir. 2022), pp. 31–32, https://www.ca5.uscourts.gov/opinions/pub/21/21-50826-CV0.pdf (accessed March 23, 2023). 49. Ibid., p. 32. 50. Ibid. (quoting Seila Law LLC v. CFPB, 140 S. Ct. 2183, 2202 n. 8 (2020)). 51. U.S. Supreme Court, “Order List: 598 U.S.,” February 27, 2023, Docket No. 22–448, CFPB et al. v. Com. Fin. Services Assn., et al., https://www.supremecourt.gov/orders/courtorders/022723zor_6537.pdf (accessed March 23, 2023). 52. Devin Watkins, Competitive Enterprise Institute, “Consumer Financial Protection Bureau: Ripe for Reform,” testimony before the Subcommittee on Financial Institutions and Monetary Policy, Committee on Financial Services, U.S. House of Representatives, March 9, 2023, https://docs.house.gov/meetings/BA/ BA20/20230309/115384/HHRG-118-BA20-Wstate-WatkinsD-20230309.pdf (accessed March 23, 2023); Norbert J. Michel, “7 Steps Next Director Can Take to Make the Consumer Financial Protection Bureau Less Awful,” Heritage Foundation Commentary, July 28, 2018, https://www.heritage.org/markets-and-finance/ commentary/7-steps-next-director-can-take-make-the-consumer-financial. 53. The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation, Federal Reserve, and National Credit Union Administration. Those functions performed by the Office of Thrift Supervision (OTS) prior to Dodd–Frank should be transferred to the OCC since OTS has merged with OCC. 54. See “Section 1071 of the Dodd–Frank Act” in David R. Burton, “Improving Small Business Access to Capital,” Consumer Financial Protection Bureau Symposium on Section 1071 of the Dodd–Frank Act, Small Business Lending Panel, November 6, 2019, https://files.consumerfinance.gov/f/documents/cfpb_burton-written- statement_symposium-section-1071.pdf (accessed March 23, 2023). 55. 5 U.S. Code Chapter 5, https://www.law.cornell.edu/uscode/text/5/part-I/chapter-5 (accessed March 23, 2023). 56. Consumer Financial Protection Bureau, “Administrative Adjudication Proceedings,” https://www. consumerfinance.gov/administrative-adjudication-proceedings/ (accessed March 23, 2023), and 12 Code of Federal Regulations Part 1081—Rules of Practice for Adjudication Proceedings, https://www.law.cornell.edu/ cfr/text/12/part-1081 (accessed March 23, 2023).

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