"These included a provision that would have placed a funding cap on the Consumer Financial Protection Bureau (CFPB), which would have cut $6.4 billion from the agency by reducing its maximum funding to zero percent of the Federal Reserve's operating expenses. The funding cut would have eliminated the agency.

The creation of the CFPB was one of the central reforms of the Dodd-Frank Act that Democrats passed in the wake of the 2008 financial crisis.

She also ruled against language cutting $1.4 billion in costs by reducing the pay of Federal Reserve staff, cutting $293 million by reducing the Office of Financial Research funding and cutting $771 million by eliminating the Public Company Accounting Oversight Board."

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"Sen. Elizabeth Warren (D-Mass.), the ranking member on the Senate Banking Committee, applauded the parliamentarian's rulings on the issues under her committee's jurisdiction.

"These proposals are a reckless, dangerous attack on consumers and would lead to more Americans being tricked and trapped by giant financial institutions and put the stability of our entire financial system at risk," she said.

"Democrats fought back, and we will keep fighting back against this ugly bill," she said.".