House GOP Members Press Cordray for CFPB Budget Details
May 14, 2012
Three Republicans on the House Committee on Financial Services again pressed Consumer Financial Protection Bureau Director Richard Cordray for additional information regarding the agencys budget, even though Congress does not control the bureaus purse strings. The Republicans justification in pressing the issue is that the bureaus budget affects the national debt while that of the other non-appropriated federal banking regulators do not. Noting the rising of the federal governments budget deficit and the fact that the CFPB is funded by the Federal Reserve, the lawmakers...