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Thursday, April 25, 2013

Waters Responds to Hensarling on Cordray

Rep. Maxine Waters (D-Calif.), ranking member of the House Financial Services Committee, responded to the decision of chairman Jeb Hensarling (R-Texas) not to invite CFPB Director Richard Cordray to deliver the CFPB’s semiannual report.

In a letter to Cordray, Hensarling explained that the committee would not invite the director to testify because of pending litigation related to the constitutionality of Cordray’s appointment.

Waters disputed the legal basis of Hensarling’s objection. “Whether or not Republican Members support the mission of the CFPB, the decision to bar Director Cordray from testifying will impede Congressional oversight of the Bureau,” she wrote.

Waters added that she is prepared to use the committee’s rules to arrange an opportunity for Cordray to testify.

Read Rep. Hensarling’s letter. 

Read Rep. Waters’ response.