Trump administration asks Fed to clarify CFPB funding availability

[In It to Win It]

https://www.yahoo.com/news/articles/trump-administration-asks-fed-clarify-161506565.html

WASHINGTON, Dec 17 (Reuters) - The U.S. Justice Department has called on Federal Reserve Chair Jerome Powell to clarify whether the central bank has stopped losing ​money, which President Donald Trump's administration has said prevents it from funding the sole federal ‌watchdog for consumer financial protection, according to court records.

The request comes as the U.S. Consumer Financial Protection Bureau says it ‌could exhaust its remaining funds in as little as two weeks and has warned staff of impending job cuts. The agency is facing legal demands in two federal lawsuits demanding that it resume requesting its funding.

Trump and other senior officials have called for the agency's outright elimination, which workers and the ⁠agency's defenders say is illegal, but ‌CFPB leadership also revealed preparations suggesting the agency could continue some functions.

Step 1: Justice Department, at the urging of Russ Vought, issues lengthy opinion indicating that Fed is not “profitable” and thus cannot fund the CFPB.

Step 2: Former Fed officials excoriate DOJ’s legal analysis in court, essentially calling it a fabrication.

Step 3:

— Cristian Farias (@cristianfarias.com) 2025-12-17T20:01:44.135Z

And scene: The full D.C. Circuit has vacated this ruling and agreed to rehear this case. Oral argument: Feb. 24, 2026.

Here's the order: media.cadc.uscourts.gov/orders/docs/...

The CFPB may survive after all.

— Cristian Farias (@cristianfarias.com) 2025-12-17T22:37:24.934Z

[dutch777]

1. The WH will be the WH bur wonder how many GOP legislators want to own losing consumer protection next election?

Like cutting ACA subsidies, ongoing inflation, etc., all this stuff hits the little guy who in their millions are the voters many will face November 2026. How this in anyone's mind is good politics for a winning future elections is beyond me. Especially when Dems can also say, and the GOP passed bills raised the nation's debt by another 4 or 5 trillion $$$.