The acting director of the Consumer Financial Protection Bureau requested zero dollars in his second-quarter budget request, saying the agency has enough money for now. Mick Mullaney, who was recently appointed by President Trump, said the CFPB has a reserve fund of $177 million. The agency will only need $145 million to fund its operations during the second quarter. The prior CFPB director, Democrat Richard Cordray, had asked for $217 million in the prior quarter and $86.6 million two quarters ago. Most Republicans have long opposed the CFPB, created under President Obama, and Mulvaney appears to have reined in the agency’s investigations since he took over.
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