A federal judge has ruled that the Consumer Financial Protection Bureau (CFPB) must continue getting its funding from the Federal Reserve, dealing a setback to Trump administration efforts to effectively shut down the agency.

The ruling Friday by U.S. District Judge Edward Davila in San Jose blocks acting CFPB Director Russell Vought from using a new legal interpretation that would have cut off the agency’s funding stream.

Litigation centers on dispute over language in the 2010 Dodd-Frank Act — the law that created the CFPB after the 2008 financial crisis.

Unlike most government agencies, the CFPB doesn’t get its money from Congress details ⇒

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