Lizeth GeorgeThe Consumer Financial Protection Bureau (CFPB) is facing a legal challenge related to its budget and future operations. In letters to the President and House and Senate appropriators, CFPB Director Russell Vought stated that the agency requires $279.6 million in fiscal year 2026 to continue operating.
Director Vought has declined to request funding from the Federal Reserve, citing his interpretation of the Dodd-Frank Act, which he says does not permit him to do so. This position has raised concerns among the National Treasury Employees Union and other organizations, which have filed suit seeking an injunction to prevent CFPB leadership from shutting down the agency. The lawsuit also requests that a judge requires the CFPB to formally request funding to maintain operations.
