CFPB Funding
In a new letter to President Trump and congressional appropriations committee leaders, the CFPB’s Acting Director Russell Vought wrote that the Bureau will need $279 million next year to maintain its required activities. This request comes on the heels of the Justice Department’s Office of Legal Counsel declaring the current CFPB funding mechanism from the Federal Reserve is illegal. The DOJ argues that the CFPB can withdraw funds only if the Federal Reserve makes a profit, which it hasn’t since 2022.
As a result of the CFPB’s inability to request funding from the Federal Reserve and its lack of funding from Congress, Acting Director Vought indicated that the Bureau will exhaust its available funds in early 2026.
While the situation on Capitol Hill for next steps is fluid at the moment, all Senate Banking Committee Democrats wrote a letter this week to Chairman Tim Scott (R-SC) requesting a hearing with Vought regarding CFPB funding. Media reports have Congressional Republicans believing the Administration’s plan will hit the Hill soon.
AFSA has long advocated that the CFPB should be subject to the traditional congressional appropriations process and supports such legislation as like Rep. Andy Barr’s TABS Act to do so. By bringing the CFPB under traditional congressional oversight, financial institutions will have clear rules of the road while empowering Americans to achieve their economic goals.
December 11th, 2025
Recent Posts
- THIS THURSDAY | AFSA Webinar | 2026 Consumer Lending Predictions: The AI Power Shift That Will Redefine the Industry—Whether We’re Ready or Not
- Extra Credit Podcast | AI in Financial Services w/ Sigmoid Analytics
- AFSA Webinar | 2026 Consumer Lending Predictions: The AI Power Shift That Will Redefine the Industry—Whether We’re Ready or Not
- The New Fraud Playbook | 2026 Vehicle Finance Conference & Expo
- CEO Roundtable | 2026 Vehicle Finance Conference & Expo