Stephen Basaja
👤 SpeakerAppearances Over Time
Podcast Appearances
One estimate put credit card swipe fees in 2024 at more than $236 billion.
CFPB gets its funding from the Federal Reserve.
The Trump administration argues that since the Fed has been operating at a loss, there is not the money to keep the financial watchdog running.
But Judge Amy Berman Jackson rejected that argument.
She already has a preliminary injunction preventing the White House from shutting down the CFPB.
And she wrote in a ruling that this is an unabashed attempt to just do that in a different way.
Other legal battles have prevented several mass layoffs there.
But President Trump has been clear he wants the CFPB gone.
Acting Director Russell Vogt has stopped most of the consumer-oriented bureau's work.
And Judge Berman Jackson wrote that the CFPB is hanging by a thread.
CFPB gets its funding from the Federal Reserve.
The Trump administration argues that since the Fed has been operating at a loss, there is not the money to keep the financial watchdog running.
But Judge Amy Berman Jackson rejected that argument.
She already has a preliminary injunction preventing the White House from shutting down the CFPB.
And she wrote in a ruling that this is an unabashed attempt to just do that in a different way.
Other legal battles have prevented several mass layoffs there.
But President Trump has been clear he wants the CFPB gone.
Acting Director Russell Vogt has stopped most of the consumer-oriented bureau's work.