Overview
- Acting Director Russell T. Vought on Jan. 9 asked Fed Chair Jerome Powell to transfer $145 million to fund the CFPB for the second quarter of fiscal 2026.
- The defendants in NTEU v. Vought notified the D.C. district court that the request was submitted, attaching Vought’s letter as an exhibit.
- Judge Amy Berman Jackson on Dec. 30 rejected the DOJ OLC view that the Fed must show net profits before transfers and ruled the CFPB must seek necessary funding under the injunction.
- The D.C. Circuit has granted en banc rehearing and restored much of the injunction, with oral argument scheduled for Feb. 24.
- A coalition of 22 state and territorial attorneys general sued on Dec. 22 in Oregon to challenge the administration’s funding interpretation and to compel continued transfers under Dodd‑Frank.