Obama's budget shows CFPB spending increase of 32%

02/15/2012 | AmericanBanker.com (subscription required)

President Barack Obama's proposed fiscal 2013 budget calls for the Consumer Financial Protection Bureau's budget to increase 32%, to $448 million, from $340 million last year. The extra funding comes as the new agency continues to add staff. "From day one we knew that eventually the CFPB would be at 10% of the Fed expenses ... and this is just a ramp up of a new federal government agency," said CBA President Richard Hunt.

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