House Financial Services Committee Hearing: CFPB Budget Review

by Jeff Sovern

Yesterday, the House Financial Services Committee held a hearing titled CFPB Budget Review.  You can listen to the webcast here.  It seems to be part of the continuing Republican attack on the Bureau.  The American Banker reported on the hearing here (behind a paywall).  The article points out that Republicans were criticial of the Bureau for paying salaries they regard as high, but also complained that top officials were leaving the Bureau.  Apparently they believe that the salaries are higher than they should be, even though they are not high enough to keep people at the Bureau.  As we have noted in the past, the Chair of the Committee, Jeb Hensarling, refused to allow the Bureau's director to testify, but seemed to have not problem with hearing from one of his subordinates.  Ah, politics. 

Comments

[Louise]

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Yes and it is sad. Unless the Bureau presents a united front, it will appear weak and ineffective to the outside.
Mr. Hensarling, please put aside personal feelings or ideologies in an open forum and settle differences on a one to one basis.
Thank you.