The CFPB will exhaust its currently available funding early next year, and the CFPB cannot withdraw funds from the Federal Reserve without a congressional appropriation, according to a recent memo by the U.S. Department of Justice. The Trump administration has argued that the CFPB can only withdraw funds from the Fed if the Fed makes a profit. The DOJ memo says that because the Fed is not profitable, it cannot transfer money to the CFPB.

Author: sdbrownlow

Student of Design