White House Revives CFPB Restructuring Call In 2020 Budget

Law360 (March 11, 2019, 10:37 PM EDT) -- The White House's latest budget proposal released Monday revives a call to restructure the Consumer Financial Protection Bureau, an idea that has featured in the Trump administration's past two budgets as a way to put a tighter leash on the consumer financial watchdog.

The fiscal year 2020 budget materials put out by the Office of Management and Budget didn't describe the specific changes that the administration is contemplating this time around for restructuring the CFPB, an independent agency that spent $553 million last fiscal year and currently gets its funding from the Federal Reserve instead of congressional appropriations.

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