CFPB Again Told It Must Request Funds From Fed

CFPB again told it must request funds from Fed

In the second court ruling rejecting the bureau’s position on requesting Fed funds, a judge in California called agency Acting Director Russ Vought’s plan a “transparent display of partisanship.”

Federal court rules against CFPB in funding lawsuit

A federal judge ruled Friday that acting Consumer Financial Protection Bureau director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.