In recent court filings, the CFPB cited a memo from the Department of Justice that said the Federal Reserve currently lacks “combined earnings” from which the bureau can draw.
The nomination of Stuart Levenbach is just a tactic to extend CFPB Acting Director Russell Vought’s tenure at the agency, according to a bureau spokesperson.
CFPB Acting Director Russell Vought has yet to request any funding for the CFPB in fiscal year 2026. His actions mimic those of a former bureau acting director.