Judge rules: The Trump administration must apply for funding from the Federal Reserve for the CFPB

A judge stated that the Consumer Financial Protection Bureau (CFPB) must obtain funding through the Federal Reserve to fulfill its statutory functions. The ruling further clarified an injunction preventing the Trump administration from shutting down the agency. The judge rejected the current administration's interpretation of the funding allocation process, noting that it deviated significantly from the CFPB's long-standing funding application method. Senator Elizabeth Warren praised the ruling, stating that it thwarted the Trump administration's attempt to "starve" the CFPB by cutting off funding