Overview
- Levenbach’s nomination was sent to the Senate and referred to the Banking Committee, resetting the Federal Vacancies Reform Act clock with about three weeks left on Russell Vought’s 210-day limit.
- A CFPB/OMB spokesperson called it a technical maneuver to keep Vought in charge, and Chairman Tim Scott has not announced a hearing or commented on the nomination.
- DOJ’s Office of Legal Counsel said the CFPB cannot lawfully draw funds from the Federal Reserve given current losses, and court filings note the bureau has funding only through Dec. 31 unless Congress provides money.
- Vought has sought to cut roughly 90% of staff, spurring NTEU litigation that initially blocked the move before an appeals court allowed reductions, a decision now under further appeal.
- Levenbach, an OMB associate director with prior NOAA roles and no financial services background, drew support from the Consumer Bankers Association and sharp criticism from Democrats including Sen. Elizabeth Warren.