WASHINGTON — Consumer Financial Protection Bureau Acting Director Russell Vought has requested $75.8 million from the Federal Reserve to fund the agency’s operations through June.
The request, disclosed in a recent court filing, would provide funding for the consumer watchdog for the remainder of the current fiscal quarter, following months of legal disputes over the Bureau’s financing, as the CU Daily has been reporting.
The funding level represents a significant reduction from prior requests. Bloomberg Law reported that the $75.8 million request is “a little more than half” of what had been sought in the previous quarter, reflecting an effort by the Trump administration to significantly reduce the scope of the agency.
The request comes amid ongoing legal and political battles over the CFPB’s funding structure and operations. Courts have previously ruled that Vought is required to seek funding from the Federal Reserve, rejecting arguments that the Bureau could halt such requests based on interpretations of the Fed’s finances,.
Ongoing Flashpoint
Under the Dodd-Frank Act, the CFPB is funded through transfers from the Federal Reserve rather than congressional appropriations, a structure designed to insulate the agency from political pressure. However, the Bureau’s funding has been a flashpoint since Vought, who also serves as director of the Office of Management and Budget, took over as acting head in 2025.
Earlier this year, a federal judge ordered the administration to continue funding the CFPB after finding that efforts to withhold funding were unlawful, according to Reuters.
