Trump Administration Considers 50-Year-Old Law and CFPB Oversight Shift to Treasury or Budget Office

The Trump administration is evaluating a potential shift in oversight of the Consumer Financial Protection Bureau (CFPB), contemplating whether to place it under the authority of either the Treasury Department or the White House Office of Management and Budget. This consideration aligns with broader discussions regarding the constitutionality of a longstanding law that limits presidential control over federal spending, the dismissal of civil servants, and the regulation of independent agencies. The administration's move could have significant implications for financial regulation and oversight.