Vought Requests $75.8 Million For CFPB For 3rd Quarter Of Fiscal Year

Acting CFPB Director Russell Vought has requested a $75.8 million transfer from the Federal Reserve to fund the CFPB through the third quarter of fiscal year 2026, i.e., through the end of June 2026.

What the $75.8M request is

• The request is for the CFPB’s third fiscal quarter of 2026 and would cover CFPB operations through June 30, 2026.

• The funding is to be provided via the Dodd-Frank transfer mechanism from the Federal Reserve, not through annual congressional appropriations.

• The request was disclosed in recent court filings, reflecting ongoing litigation over whether and how the Trump administration must continue to fund the Bureau.

Size relative to prior quarters

• Vought previously requested about $145 million for the second quarter of FY 2026 (January–March), following a federal court order requiring him to keep the agency funded.

• The new $75.8 million request is a little more than half of the prior quarter’s $145 million request, indicating a further reduction in the CFPB’s quarterly operating budget.

• Commentators have noted that both the $145 million and $75.8 million figures are materially below what prior leadership viewed as necessary for a full quarter of operations, based on Rohit Chopra’s past quarterly requests.

Recent quarterly CFPB funding under Vought vs. Chopra

Legal and political context

• Vought initially attempted to defund the CFPB, including a prior request of $0 for an earlier quarter in FY 2025, which triggered congressional criticism and litigation.

• Federal courts have since ordered that the CFPB must continue to request funds from the Fed using the Dodd-Frank mechanism, which prompted the $145 million and now $75.8 million requests despite Vought’s stated opposition.

• Bloomberg Law and other outlets characterize the reduced $75.8 million request as part of a broader Trump administration effort to shrink the CFPB’s footprint, including staff cuts and dropped enforcement, while litigation over the Bureau’s structure and funding continues.