While both parties agreed that the court’s preliminary injunction is still in effect, the CFPB asked the court not to use the injunction to address questions surrounding the bureau’s funding.
CFPB Acting Director Russell Vought is required by the Dodd-Frank Act to determine the amount of funding “reasonably necessary” to carry out the bureau’s responsibilities, according to consumer advocacy groups.
The new policy requires examiners to read out a statement before conducting company reviews, signaling a shift to more transparent, narrower exams focused on tangible consumer harm.