It’s different from the FTC because its funding comes directly from the federal reserve. So the CFPB--a bureau within the federal reserve--cannot be funded by

It’s different from the FTC because its funding comes directly from the federal reserve. So the CFPB--a bureau within the federal reserve--cannot be funded by the federal reserve? So it’s independent of both the President and Congress. Just like the federal reserve. The federal reserve doesn't just set interest rates and lend money... they're also tasked with regulation of the financial system. So it makes sense that the CF(inancial)PB would be part of it. In fact, the creation of the CFPB was just the consolidation of work done by several bureaus, including the federal reserve. Kind of like when DHS was created--just a reorganization.