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CFPB’s Vought requests Fed funding

U.S. Office of Management and Budget (OMB) Director Russell Vought
US Office of Management and Budget (OMB) Director Russell Vought. Photo: Kayla Bartkowski/Getty Images

In a court-ordered reversal, the beleaguered agency has agreed to seek quarterly funding from the Federal Reserve after all.

After a loss in federal court in late December, CFPB Acting Director Russell Vought announced that his agency would seek $145m in funding from the Federal Reserve for its quarterly draw, saying the request was required under the court’s order even though he disagreed with it.

The CFPB previously

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