✉news WorldLaw & Courts first seen 13 h ago, last 1 h ago, peak #4
Court Rejects OLC's Reading of CFPB Funding Law
Original: Third District Court Rejects OLC’s Interpretation of CFPB Funding Statute
A district court has rejected the Office of Legal Counsel's interpretation of the statute governing how the Consumer Financial Protection Bureau is funded. The ruling challenges the Justice Department's long-standing position on the CFPB's self-financing mechanism, which draws its budget directly from the Federal Reserve. The decision could shape ongoing legal fights over the bureau's funding structure and its ability to continue operating.
Why now: The ruling challenges the legal basis for the CFPB's funding, a live issue in litigation and regulatory policy debates.
Consumer Financial Protection BureauOffice of Legal CounselThird District Court
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- Third District Court Rejects OLC’s Interpretation of CFPB Funding Statute · Consumer Finance Monitor
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