Trump Admin Moves to Cut Off Consumer Financial Protection Bureau

The administration says the bureau’s funding is illegal despite previous rulings supporting the agency’s money source.

Consumer Financial Protection Bureau headquarters in Washington, on May 14, 2021. Andrew Kelly/Reuters

The Trump administration has deemed the funding for the Consumer Financial Protection Bureau (CFPB) to be unlawful, potentially putting the agency on a track to close.

A Nov. 10 court filing disclosed the Department of Justice finding, which is the most recent attempt by President Donald Trump’s administration to shut down the agency.