Subcommittee on Oversight and Investigations

By Gretchen Morgenson Read more »

The House Financial Services Committee on Monday released a staff report of its investigation into the U.S. Department of Justice’s decision not to prosecute HSBC or any of its executives or employees for serious violations of U.S. anti-money laundering laws and related offenses. The Committee initiated its investigation in March 2013.  The Department of Justice (DOJ) and the… Read more »

Holding Bureaucrats Accountable and Helping Main Street Grow Two committee priorities – holding Washington accountable and growing Main Street’s economy – were on the House floor this week in the form of Rep. Tom Emmer’s (R-MN) “Financial Stability Oversight Council Reform Act” and Rep. Mia Love’s (R-UT) regulatory relief bill for small community banks.  Both passed the House and now… Read more »

The Consumer Financial Protection Bureau (CFPB) has undertaken a dozen large-scale data collection efforts, gathering highly sensitive information on millions of American consumers even as the Bureau’s director has acknowledged that data held by the CFPB is “not 100 percent secure.” The Financial Services Oversight and Investigations Subcommittee held a hearing today… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the Committee’s schedule for this week.  Wednesday, December 16 at 10:30 a.m. - The Oversight and Investigations Subcommittee will hold a hearing to examine the Consumer Financial Protection Bureau’s Mass Data Collection Program.   In a report last year,… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing to examine the Future of Housing in America and the Department of Housing and Urban Development (HUD) during its 50th anniversary year: In launching the War on Poverty, President Lyndon Johnson told us its purpose was, “not only to relieve the symptom of poverty but… Read more »

WASHINGTON - The House Financial Services Oversight and Investigations subcommittee heard testimony from witnesses today that the CFPB has a culture of racial and gender discrimination and retaliation against its employees. Allegations that CFPB managers have engaged in discrimination and created “a hostile work environment” were chronicled in a March 6 American Banker article titled… Read more »

WASHINGTON- A whistleblower testifying at today’s Financial Services Oversight and Investigations Subcommittee hearing on allegations of discrimination and retaliation within the CFPB said CFBP Director Richard Cordray “told me that I have to tell my attorneys to back down.” The whistleblower – CFPB attorney Angela Martin – provided the information about Director Cordray’s involvement… Read more »

The House is in session Tuesday through Friday this week. Here’s what’s happening: On Wednesday at 10:00 a.m. the Oversight and Investigations Subcommittee will hold a hearing to examine allegations of discrimination and retaliation within the CFPB. Committee staff has received corroborating information from a CFPB employee who alleges she has experienced gender discrimination and… Read more »

WASHINGTON - Financial Services Committee Chairman Jeb Hensarling (R-TX) and Oversight and Investigations Subcommittee Chairman Patrick McHenry (R-NC) delivered the following letter in response to an attempt by Democrats to cancel Wednesday’s hearing on allegations of discrimination and retaliation at the CFPB. To view the letter, click here. The subcommittee is scheduled to hear from a… Read more »