Overview
- In a court filing, the administration reported the CFPB expects to exhaust its remaining funds in early 2026 and has sufficient cash to operate through at least Dec. 31, 2025.
- Relying on the new OLC opinion, the DOJ told the court the bureau is legally barred from requesting Federal Reserve transfers because the Fed currently has no combined earnings.
- The filing says Acting Director Russell Vought is preparing a report to the President and congressional appropriations committees outlining the bureau’s funding needs.
- Most CFPB operations and enforcement have been paused as litigation continues, with the D.C. Circuit considering a possible en banc review of the union’s challenge to large reductions-in-force.
- Previous rulings, including a 2024 Supreme Court decision, upheld the CFPB’s funding structure, even as Republicans cut the agency’s 2025 funding cap and key Democrats denounce the new interpretation.