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H.J. Res. 31, the appropriations bill signed into law by President Trump on February 15 that ended the partial government shutdown and provides funding for fiscal year 2019 through September 30, 2019, includes a provision dealing with CFPB funding requests.

Pursuant to Section 1017(a)(1) of the Dodd-Frank Act, subject to the Act’s funding cap,…

Mick Mulvaney, President Trump’s appointee as CFPB Acting Director, has sent a letter to Fed Chair Janet Yellen “to inform [her] that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0.” (emphasis included).

Pursuant to Section 1017(a)(1) of the Dodd-Frank Act, subject to the Act’s funding cap, the Fed is…

Republican Senator David Perdue has introduced a bill, S.1383 entitled the ‘‘Consumer Financial Protection Bureau Accountability Act of 2015,” that would make the CFPB subject to the congressional appropriations process.  Currently, pursuant to Dodd-Frank, the CFPB is entitled to receive automatic annual funding through transfers from the Fed that are capped at a fixed percentage…

Yesterday, the House of Representatives, by a vote of 235-183, passed H.R. 1195, titled the “Bureau of Consumer Financial Protection Advisory Boards Act.”  As originally proposed, the bill would codify the CFPB’s existing advisory councils for community banks and credit unions (and rename them “advisory boards”) and establish a new Small Business Advisory Board.…