Judge Warns Vought of Contempt Order If He Back-Door Shuts Down CFPB

In an order issued today, a federal judge in Washington clarified that any effort by Acting Consumer Financial Protection Bureau (CFPB) director Russell Vought to allow funding to lapse based on a theory that the Federal Reserve has no “combined earnings” from which to draw would violate her previous ruling to keep the agency open. Judge Amy Berman Jackson intimated that Vought could be held in contempt of court if he used this dubious interpretation of the CFPB’s funding structure.

Vought’s...