Acting Consumer Financial Protection Bureau Director Russ Vought huddled with House Financial Services Committee Republicans Friday morning, four lawmakers told Semafor.
The lawmakers said they discussed opportunities to rein in that agency without shuttering it, including establishing greater congressional oversight.
A federal judge recently ruled the CFPB must continue to request its funding from the Federal Reserve. “Everyone’s sober about what the path forward is for now,” Rep. John Rose, R-Tenn., said. “Obviously, there’s a role the CFPB plays, so if they were to go away — which is not likely to happen in the current environment — there would still be a regulatory obligation there.”
Members specifically pressed Vought on completing rulemakings on data collection, open banking, small-dollar lending and disparate-impact claims across the finish line, another lawmaker said.
A spokesperson for Vought, who also helms the Office of Management and Budget, did not comment.