In a court filing, Project 2025’s Russ Vought, current acting director of the Consumer Financial Protection Bureau (CFPB), claims that the agency’s funding mechanism violates federal law. The agency is responsible for holding companies accountable for deceptive and abusive business practices.
CFPB will shut down early next year without funding, which has been on Vought’s agenda since he gutted the agency in February.
The administration said it now considers the CFPB legally barred from seeking additional money from the Federal Reserve, which is the agency’s typical source of funding.
Politico
Vought, who also serves as Trump’s director of the Office of Management and Budget (OMB), said as recently as last month that he intends to demolish the agency soon. Federal judges have thwarted his attempts to do so since Trump took office.
Since its launch in 2011, the CFPB has returned over $21 billion to Americans from corporations taking advantage of the market and lying about their products or services.
