H.R. 654 aims to change the name of the Bureau of Consumer Financial Protection to the Consumer Financial Empowerment Agency and make it an independent agency. The bill modifies existing laws to replace references to the Bureau with the new agency and makes the agency subject to the regular...
Simple Explanation
Imagine there's a place called the "Bureau of Consumer Financial Protection" that helps make sure money rules are fair. This bill wants to change its name to "Consumer Financial Empowerment Agency" and let Congress decide how much money they get each year to do their job.