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House Members Again Request CFPB Budget Information

Posted on 5/7/2012

Rep. Randy Neugebauer (R-Texas), chairman of the House Oversight and Investigations Subcommittee, and two other panel members last week asked the Consumer Financial Protection Bureau for financial documents that the lawmakers said they requested in February but didn't receive.

"Every dollar the Fed sends to CFPB is one less dollar that can be used toward deficit reduction. It is therefore imperative we monitor CFPB's budget to ensure the bureau is, in fact, being held accountable for its spending decisions," the lawmakers said in a letter to bureau Director Richard Cordray.

The documents they requested include copies of any financial operating plans and forecasts; a more-detailed fiscal year 2013 budget justification; requests for funds transfers from the Federal Reserve; and specifics on the CFPB's process for determining its staffing needs.



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