News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Federal Funding Federal Budget

Ballard Spahr LLP

Senate Parliamentarian says elimination of CFPB funding cannot be included in budget bill but delay of Section 1071 rule passes...

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The Senate parliamentarian has ruled that a key Senate Banking, Housing and Urban Affairs (Banking Committee) provision that would eliminate all funding for the CFPB cannot be included in the massive budget reconciliation...more

Ballard Spahr LLP

Budget bill would cut CFPB funding

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The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more

Ballard Spahr LLP

House Financial Services Committee finds savings by slashing CFPB budget

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The House Financial Services Committee has approved its part of the massive budget bill, saving some $1 billion by, among other things, slashing the CFPB’s budget by more than 60%....more

Orrick, Herrington & Sutcliffe LLP

Congressional Financial Services Committee members pen letter to CFPB requesting explanation for a $0 funding request

On February 11, the ranking members from both the House Committee on Financial Services and the House Subcommittee on Financial Institutions sent a letter to CFPB Acting Director Russell Vought expressing concerns regarding...more

Bradley Arant Boult Cummings LLP

Vought’s Transformational First Few Days at the CFPB

Within approximately 48 hours, starting on the evening of Friday, February 7, 2025, the trajectory of the Consumer Financial Protection Bureau (CFPB) was significantly altered. Among other things, a new acting director was...more

McGlinchey Stafford

CFPB Under Trump: Internal and External Threats Continue to Mount

McGlinchey Stafford on

A new acting director. Freezes on any rulemaking, enforcement, or supervisory activities. Attempts to dismantle the department from within. In the span of a short forty-eight hours, the CFPB has faced possibly the greatest...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 41

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Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both out of session for the last week before the election. Debt Limit. According to the Bipartisan Policy Center, the U.S. won’t reach its...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 40

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Outlook for This Week in the Nation’s Capital - Congress. Congress is in recess this week. Shortly after returning from the midterm election break, both parties will hold votes on their leadership. House Speaker Nancy Pelosi...more

Clark Hill PLC

Window on Washington – Vol. 6, Issue 35

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Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in session this week. Senate Majority Leader Chuck Schumer (D-NY) filed cloture last week on the Kigali amendment to the Montreal...more

Ballard Spahr LLP

President Trump’s FY 2020 budget continues attempt to subject CFPB to appropriations process

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Like his FY 2018 and FY 2019 budgets, President Trump’s FY 2020 budget would make the CFPB subject to the regular Congressional appropriations process....more

Ballard Spahr LLP

Appropriations bill ending shutdown includes provision on CFPB funding requests

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H.J. Res. 31, the appropriations bill signed into law by President Trump on February 15 that ended the partial government shutdown and provides funding for fiscal year 2019 through September 30, 2019, includes a provision...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 3

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Outlook for This Week in the Nation's Capital - Partial Government Shutdown Continues With No End in Sight: The ongoing partial government shutdown, a result of 7 of the 12 annual appropriations bills for Fiscal Year 2019...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 12

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Outlook for This Week in the Nation's Capital - Spring Break. Congress is on recess for the next two weeks while observing the Easter and Passover holidays. Both Chambers will return the week of April 9....more

Clark Hill PLC

Window on Washington - This Week in the Nation's Capital - Vol. 1, Issue 19

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House Passes Spending Bill That Includes Over $1 Billion in Border-Wall Funding: The House passed a $788 billion spending bill that combines a $1.6 billion down payment for President Donald Trump's controversial border wall...more

Ballard Spahr LLP

Trump’s FY 2018 Budget Subjects CFPB to Congressional Appropriations Process

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Tuesday, President Trump released an outline of his FY 2018 Budget entitled “A New Foundation for American Greatness”. There is good news and bad news for the CFPB, although most of it is bad news. The good news for the...more

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