Subcommittee on Oversight and Investigations

Rep. Patrick McHenry (R-NC), Chairman of the Financial Services Committee Oversight and Investigations Subcommittee, made the following comments today after the CFPB released a statement to the press that the Bureau is refusing to send witnesses to the Subcommittee’s hearing on Wednesday: “Discrimination and retaliation are unacceptable, and the Subcommittee next week will hear from a… Read more »

Allegations that the CFPB has engaged in discrimination and retaliation against its employees will be the subject of a Financial Services Committee Oversight and Investigations Subcommittee hearing next week. The subcommittee hearing comes amid reports, first published in the American Banker, that CFPB managers “show a pattern of ranking white employees distinctly better than… Read more »

To mark “Sunshine Week,” a national initiative launched by the media to promote open government, Financial Services Committee Chairman Jeb Hensarling (R-TX) is calling on CFPB Director Richard Cordray to end the bureau’s closed-door meeting policy for its four advisory councils. “Instead of operating behind closed doors, it’s time for the CFPB to live up to its oft-stated commitment to… Read more »

CLICK HERE To mark Sunshine Week, Financial Services Committee Chairman Jeb Hensarling (Twitter | Facebook) delivers this week’s Sunday Video Message on the lack of transparency at the CFPB. Read more »

…Wasting Millions on Office Renovations …Under Investigation …Closed Door Meetings …Shocking Report of Discriminatory Treatment …In Urgent Need of House-Approved Accountability, Oversight and Reform Bill American Banker, 3/6: CFPB Staff Evaluations Show Sharp Racial Disparities “CFPB managers show a pattern of ranking white employees distinctly better than minorities in… Read more »

The House passed the Consumer Financial Freedom and Washington Accountability Act (H.R. 3193) with bipartisan support yesterday to bring greater accountability and transparency to the powerful and uniquely unaccountable CFPB. VIDEO: Chairman Hensarling’s Floor Statement on H.R. 3193:  “Today, the CFPB is spending $145 million to renovate a $150… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following floor remarks on H.R. 3193, the Consumer Financial Freedom and Washington Accountability Act: Mr. Chairman, we are now into the sixth year of the Obama administration and probably the two most common comments I hear from my constituents are “I just can’t make ends meet in this economy” and… Read more »

NOTE: Subcommittee hearing Wednesday, Feb. 26 at 10 a.m. on Inspector General’s report in Room 2128 Rayburn Building. Inquiries from the House Financial Services Subcommittee on Oversight and Investigations led to an Inspector General’s report that reveals senior officials at the Department of Housing and Urban Development improperly engaged in lobbying activity and attempted to… Read more »

The House is in session Monday through Thursday this week. Be sure to check back here on the Bottom Line Blog -- and sign up for our email updates -- for committee specific information as the week progresses.  Here's what's happening:  On Tuesday morning at 10 a.m., the Oversight & Investigations Subcommittee undertakes a general overview of disparate impact… Read more »

Last week, the Oversight and Investigations Subcommittee questioned the Department of Housing and Urban Development's (HUD) Inspector General, David Montoya, about reducing waste, fraud, and abuse in the department’s housing programs. All totaled, the latest IG report identified more than $770 million in questionable costs and included recommendations for putting $739.5 million in HUD… Read more »