Excerpt
PAUL SOLMAN (Newshour): Weeks after his embattled recess appointment to head the Consumer Financial Protection Bureau, Richard Cordray appeared before a congressional oversight subcommittee.
President Obama tapped Cordray, the former Ohio attorney general, last summer. But the nomination was stalled by the Senate. Republicans insisted the CFPB is too powerful and lacks oversight.
Republican Patrick McHenry of North Carolina, who chaired today's hearing, repeated that charge.
REP. PATRICK MCHENRY, R-N.C.: The fact of the matter is, the operations and authority of the CFPB still remain a mystery to Congress and the American public.
PAUL SOLMAN: During questioning, McHenry pressed Cordray to lay out the CFPB's agenda for the coming year.
REP. PATRICK MCHENRY: With these roughly 800 employees you have and a budget that's hundreds of millions of dollars, will you lay that out?
RICHARD CORDRAY, director, Consumer Financial Protection Bureau: I think our agenda has been pretty clear to everybody who has interacted with us, from the Chamber to consumer groups. I'm happy to have my staff work with you, and if that seems to be a best practice, that that's something that we could do.
We're not intending to hide the ball. I think our priorities are quite clear. We have stated them very clearly.
No comments:
Post a Comment