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Trump Administration Could Defund CFPB By 2026
The Trump administration has escalated its campaign to defund the Consumer Financial Protection Bureau - setting in motion what could be its effective closure within a year.
In a court filing (PDF File) this week, the administration said the CFPB cannot seek additional money from the Federal Reserve - its usual source of operating funds. The bureau said it has enough reserves to continue through December but “anticipates exhausting its currently available funds in early 2026.” Without congressional action, that timeline would mark the end of the CFPB’s ability to function.
The Justice…
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