The Consumer Financial Protection Bureau filed a notice in NTEU v. Vought stating that the Department of Justice’s Office of Legal Counsel has determined the Bureau may not legally request funds from the Federal Reserve at this time under Dodd-Frank. The Office of Legal Counsel reached this conclusion because the Federal Reserve System currently lacks “combined earnings” from which the Bureau can draw funding, as required by Dodd-Frank, and the opinion is binding on Executive Branch agencies. The Bureau indicated it expects to have sufficient funds to continue operations until at least 31 December 2025.
Consumer Financial Protection Bureau 2025-11-11
Consumer Financial Protection Bureau informs court it cannot lawfully draw Federal Reserve funding under Dodd-Frank
The Consumer Financial Protection Bureau (CFPB) announced that the Department of Justice’s Office of Legal Counsel has determined the CFPB cannot legally request funds from the Federal Reserve under Dodd-Frank due to a lack of "combined earnings." Despite this, the CFPB expects to maintain operations until at least 31 December 2025.