Consumer Financial Protection Bureau Acting Director Russell Vought has requested $145 million from the Federal Reserve to fund the bureau through at least March, according to a recent court filing.
The CFPB is unique among federal agencies in that its funding comes through a request by the bureau’s director to the Fed. Both Vought and President Trump have said they want to shutter the CFPB, which was created by an act of Congress. Vought has sought to lay off most CFPB staff and scale back its operations, but the union representing bureau employees and Democratic state attorneys general have sued to halt the administration’s actions.
Vought’s request was the result of a recent court order directing the administration to continue funding the bureau. In his request, the acting director said he did not agree with the order.
The administration has previously said it expected the CFPB to run out of funding early this year.
