In the National Mortgage News (may be behind paywall). Excerpt:
Through a law enacted by Congress, the CFPB receives an amount of up to 12% of the Federal Reserve’s inflation adjusted profits in 2009. This new Senate plan would reduce that amount to 0%, completely cutting off money the agency’s dedicated workers used to hold financial predators accountable for their bad acts and return $21 billion to consumer pockets in the process. The bureau’s rulemaking, guidance and enforcement also have help prevent a repeat of the 2008 Financial Crisis, which crashed the national economy and cost millions of people their homes, jobs, and savings.
This type of funding stream for the CFPB, independent of the annual congressional appropriations process, has been used for nearly all of the nation’s history, such as for the U.S. Mint, which was established in 1792. Congress funds around 60% of our current federal spending this way, including for Medicare, Medicaid and Social Security.