Katie BaileyYesterday, the Office of Management and Budget Director Russ Vought has submitted a $145 million request to the Federal Reserve to fund operations at the Consumer Financial Protection Bureau (CFPB) through the second quarter of this year, according to America’s Credit Unions.
The request follows a December court ruling that rejected the administration’s argument that the Federal Reserve lacked the authority to fund the CFPB.
Previously, the administration warned that the Bureau could run out of funding in early Q2, citing limitations on requesting additional funds while the Federal Reserve was operating at a loss.
