U.S. DOJ Opines on CFPB Funding Injunction

The U.S. Department of Justice (DOJ) directed a federal court that a preliminary injunction does not require the Consumer Financial Protection Bureau (CFPB) Acting Director to request additional funding from the Federal Reserve. Acting Director Vought has stated that – absent new funding – the Bureau could exhaust its resources by 2026, resulting in employee furloughs. The National Treasury Employees Union is asking the court to clarify whether the refusal to request funding violates a separate injunction that would prohibit mass layoffs at the CFPB without cause. 

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