House Republicans are keeping an eye on the money spent by the Consumer Financial Protection Bureau.
In a Nov. 22 letter to the CFPB’s Raj Date, Rep. Randy Neugebauer (R-Tex.) inquired about the Bureau receiving $28 million more in FY2011 from the Federal Reserve, 21 percent more than the $142 million earmarked in the presidential budget. Neugebauer is chairman of the House Financial Services Oversight and Investigations Subcommittee.
The letter requests a detailed report of expenditures, including transfers of money from the Fed, as well as expenses incurred in establishing offices, hiring and other financial obligations. The subcommittee asked for a spreadsheet with the title and pay of each CFPB employee, median 2011 salaries for employees at every level, and a detailed organizational chart – all by Dec. 16, 2011.
The Bureau previously summarized its expenditures on a broader level in a July 18 report, “Building the CFPB: A Progress Report.”