The Consumer Financial Protection Bureau is turning to a tool typically used for emergencies to finish rules ahead of a self-imposed funding cliff.
Acting CFPB Director Russell Vought has declined to request new funding from the Federal Reserve since taking charge in February and now says the agency is about to run out of money.
But the CFPB still has work to do, such as efforts to rewrite Biden-era open banking and small business lending demographic data collection rules and a bid to roll back fair lending enforcement. The CFPB will also have to figure out how to calculate the ...