Hal Scott – Understanding the CFPB’s Funding Problem

Hal Scott – Understanding the CFPB’s Funding Problem

UNDERSTANDING THE CFPB’S FUNDING PROBLEM * HAL S. SCOTT FEBRUARY 14, 2025 The Dodd Frank Act of 2010 requires that the CFPB’s funding be sourced from the “combined earnings” of the Federal Reserve System.1 However, the Fed has had no such earnings since September 2022...