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CFPB Acting Director Mick Mulvaney has asked for plans that would reduce the bureau's fiscal year 2019 spending by 20 percent, putting it on par with 2015 funding levels. Mulvaney indicated the cuts would come primarily from non-personnel spending and travel budget.

Earlier this year, Mulvaney told the Federal Reserve that the bureau did not need any funds for the second quarter and would instead use reserve funds. The rest of the year's funding requested by Mulvaney represented about a 37 percent reduction from the previous year.

The bureau currently receives its funding through the Fed, though Mulvaney has asked to bring the bureau under the congressional appropriations process to increase its oversight – a move which NAFCU supports.

President Donald Trump's proposed 2019 budget seeks to reduce the bureau's funding and also place it under the congressional appropriations process.