The "Taking Account of Bureaucrats' Spending Act of 2025," or TABS Act of 2025, proposes significant structural and operational changes to the Bureau of Consumer Financial Protection (BCFP). Its primary purpose is to rename the agency to the Consumer Financial Empowerment Agency and remove its affiliation with the Federal Reserve System, establishing it as a standalone independent agency.

A key provision of the bill is to transition the agency's funding from its current mechanism, which draws from the Federal Reserve System, to the regular congressional appropriations process. This change would subject the agency's budget to annual review and approval by Congress, with specific sums authorized for fiscal years 2026 and 2027. This aims to increase congressional oversight over the agency's expenditures.

Furthermore, the bill modifies the appointment and removal process for the agency's Director. Under the proposed changes, the Director would be appointed solely by the President, removing the requirement for Senate confirmation and eliminating the "for cause" protection against removal. This would effectively make the Director an at-will presidential appointee, potentially increasing executive influence over the agency's leadership.

The legislation also includes numerous conforming amendments across various federal acts, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Truth in Lending Act, to reflect the new name and structural changes. These amendments ensure that all references to the "Bureau of Consumer Financial Protection" are updated to the "Consumer Financial Empowerment Agency." Additionally, the bill removes specific provisions related to the agency's examination and supervisory activities, further altering its operational scope.