Shortly after Russ Vought was confirmed as OMB director, President Trump designated him the acting  director of the Consumer Financial Protection Bureau. Vought then promptly notified the Fed that the CFPB’s funding request for next quarter is $0:

This is not only good policy, but it is correct as a legal matter.

Unleash Prosperity senior fellow, EJ Antoni, has made a strong case that Trump has the authority to shut down the troublemaking federal regulatory agency.

He can pull the plug on the brainchild of Elizabeth Warren because this agency is funded, not by appropriations from Congress, but by Federal Reserve Board profits.  For the last several years, the Fed has been losing hundreds of billions of dollars on the interest it pays to banks.  So there are no profits to use to fund CFPB!

This upside-down financial situation could be resolved by stopping the interest the Fed pays on reserves. But as long as there are no Fed profits, there should be no CFPB funding.

This way, everyone is happy and a snooping agency goes out of business. What’s not to like?