Under court order, Trump administration agrees to fund beleaguered consumer financial watchdog

WASHINGTON, Jan 9 (Reuters) - Citing a court order, President Donald Trump's budget director on Friday asked the U.S. Federal Reserve to supply $145 million to fund the operations of the Consumer Financial Protection Bureau, ending an 11-month stretch during which the White House had starved the agency of funds and warned staff could be let go and many operations suspended as result.

In a letter to Fed Chair Jerome Powell, Russell Vought, who serves both as the head of the Office of Management and Budget and the acting CFPB director, said the funds would be sufficient to carry out the CFPB's functions during the January to March period.