Rep Cmte Financial Services
VIDEO: CFPB Director’s Dismissive Response to Congresswoman’s Question Another Sign Bureau is Unaccountable, Lacks Transparency
Washington, Mar 4 -
CLICK HERE TO WATCH
Seems like a perfectly reasonable question to ask: Who authorized the CFPB to renovate its rented Washington headquarters?
It’s a question Republicans on the Financial Services Committee have been asking for some time – because the Federal Reserve’s Inspector General reports the cost of those renovations has skyrocketed to more than $215 million.
It’s a question the Inspector General couldn’t get an answer to – because the CFPB “was unable to locate any documentation of the decision to fully renovate the building.” (Emphasis added)
So when CFPB Director Richard Cordray appeared before the committee yesterday, Rep. Ann Wagner (R-MO) took the opportunity to find out.
Director Cordray’s answer is not the type of answer one would expect from the leader of an accountable and transparent federal agency that respects the value of a dollar.
Unfortunately, it is exactly the type of answer we’ve come to expect from the CFPB.
Click here to watch his answer.
To read the Inspector General’s report on the CFPB, click here: “Inspector General Reports CFPB Renovation Costs Now Exceed $215 Million -- $120 Million More Than Previous Estimate”