The demise of a key consumer protection agency could push relief for student-loan borrowers further out of reach.
Attorneys for Russell Vought, acting director of the Consumer Financial Protection Bureau, wrote in a legal filing on November 10 that the administration “anticipates exhausting” the CFPB’s available funds in early 2026, meaning that after that point, the agency created in 2011 to protect Americans from another financial crisis will be defunct.
Vought wrote in a memo that the CFPB’s funding structure, which relies on money from the Federal Reserve, is not constitutional, marking the Trump administration’s most significant step to date in attempting to shut down the agency. Vought argued that the…