CFPB Funding Question Threatens Agenda
The Consumer Financial Protection Bureau’s argument that it’s running out of money and can’t request additional funding brings more chaos for banks, financial technology firms, and other companies overseen by the agency.
The CFPB “anticipates exhausting its currently available funds in early 2026” after the Justice Department’s Office of Legal Counsel determined the bureau can’t draw any further funding from the Federal Reserve, according to a court filing from the Trump administration this week.
Acting CFPB Director Russell Vought’s decision to bring up the novel question over the agency’s funding now—more than nine ...