DOJ wants Fed Chair Powell to weigh in on CFPB funding
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The DOJ seeks Fed Chair Powell's input on CFPB funding, questioning the Fed's profitability and its impact on CFPB operations. The DOJ's letter to Powell addresses whether the Fed expects to return to profitability soon, affecting the legal rationale for withholding CFPB funds. Judge Jackson orders CFPB Director Vought to attach Powell's response to the court. The issue is central to CFPB's functioning amid legal challenges and potential staff furloughs.
Source: American Banker The copyright of this article belongs to the original author/organization.
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