Register Now for Our August 24 Webinar on the House Financial Services Committee’s Discussion Draft of the CFPB Reform Act of 2026

August 6, 2026 - 02:26

A key staff member behind the House Financial Services Committee's new proposal to reshape the Consumer Financial Protection Bureau will break down the plan in a live online session later this month.

The webinar, scheduled for August 24, will feature David McGrath from the committee's majority staff. McGrath is one of the primary architects of the discussion draft for the CFPB Reform Act of 2026. The event is designed for compliance officers, financial institution executives, and policy watchers who need to understand what the draft actually changes.

The proposed legislation aims to restructure the bureau's funding mechanism, moving it away from its current Federal Reserve-backed budget to a model subject to annual congressional appropriations. It also seeks to alter the director's removal protections and tighten the bureau's rulemaking authority, particularly around unfair, deceptive, or abusive acts and practices, known as UDAAP.

During the session, McGrath will walk through the draft's key provisions, explain the committee's rationale, and address how the changes could affect enforcement priorities. There will also be a Q&A segment where attendees can submit questions about compliance timelines, potential transition periods, and what happens to existing rules if the act becomes law.

Organizers say the webinar is free but requires advance registration. The session is expected to run for 60 minutes, with materials distributed to all registered participants after the event. Given the draft's potential to reshape consumer finance oversight, the discussion is expected to draw significant interest from both industry and advocacy groups.