A judge said that the US Consumer Financial Protection Agency must obtain funding through the Federal Reserve to perform its statutory functions. The ruling further clarifies a ban to prevent the Trump administration from shutting down the agency. The judge rejected the current administration's interpretation of the fund disbursement process, pointing out that it seriously deviated from the CFPB's long-standing funding application method. Senator Elizabeth Warren praised the ruling, saying it thwarted the Trump administration's attempt to “starve” CFPB by cutting off funding.

A judge said that the US Consumer Financial Protection Agency must obtain funding through the Federal Reserve to perform its statutory functions. The ruling further clarifies a ban to prevent the Trump administration from shutting down the agency. The judge rejected the current administration's interpretation of the fund disbursement process, pointing out that it seriously deviated from the CFPB's long-standing funding application method. Senator Elizabeth Warren praised the ruling, saying it thwarted the Trump administration's attempt to “starve” CFPB by cutting off funding.