The House Appropriations Committee advanced a Fiscal Year 2017 Financial Service Bill Tuesday that, if signed into law, would include major changes to the Consumer Fraud Protection Bureau (CFPB).

The bill includes a provision to stop funding the agency directly from the Federal Reserve and subject funding into the congressional appropriations process. The bill also seeks to replace the CFPB Director with a five-member panel and requires the agency to study the use of pre-dispute arbitration before issuing regulations.

In a recent statement, House Appropriations Chairman Hal Rogers (R-Kentucky) addressed the concerns of many in the lending community who feel the CFPB has acted outside its authority and lacks accountability.

The job of this bill is two-fold: to make wise investments with taxpayer dollars in the programs and agencies that we need to grow our economy and enforce our laws, and to tightly hold the reins on the over-spending and overreach within federal bureaucracies,” Rogers wrote.

The text of the bill can be seen here.