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CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve

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Case Summary

The Consumer Financial Protection Bureau (CFPB) notified a court that it cannot lawfully draw funds from the Federal Reserve under Dodd-Frank, as confirmed by the Department of Justice’s Office of Legal Counsel (OLC). OLC concluded the Federal Reserve lacks any 'combined earnings' from which the Bureau could request funds.

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CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve

Media Coverage · April 18, 2026

CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve Washington, D.C.—Today, the Consumer Financial Protection Bureau (CFPB) filed a notice informing the court in NTEU v. Vought that the Department of Justice’s Office of Legal Counsel (OLC) has determined that the Bureau may not legally request funds at this time from the Federal Reserve under Dodd-Frank. OLC made this conclusion on the basis

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Key Issues

  • • CFPB's funding restrictions under Dodd-Frank
  • • OLC's determination on Federal Reserve earnings
  • • Impact on CFPB's ability to request funds
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CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve Washington, D.C.—Today, the Consumer Financial Protection Bureau (CFPB) filed a notice informing the court in NTEU v. Vought that the Department of Justice’s Office of Legal Counsel (OLC) has determined that the Bureau may not legally request funds at this time from the Federal Reserve under Dodd-Frank. OLC made this conclusion on the basis that the Federal Reserve System currently lacks any “combined earnings” from which

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Case Timeline

1 event
newspaper
Media Coverage April 18, 2026

CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve

CFPB Notifies Court it Cannot Lawfully Draw Funds from the Federal Reserve Washington, D.C.—Today, the Consumer Financial Protection Bureau (CFPB) filed a notice informing the court in NTEU v. Vought that the Department of Justice’s Office of Legal Counsel (OLC) has determined that the Bureau may not legally request funds at this time from the Federal Reserve under Dodd-Frank. OLC made this conclusion on the basis that the Federal Reserve System currently lacks any “combined earnings” from which the Bureau may draw funding, as required by Dodd-Frank. OLC opinions are binding upon Executive Branch agencies including the Bureau.

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Press Coverage

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Sources tracked

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Timeline events

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Last updated

28 minutes ago

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