House Committee Battles With CFPB Over Whistleblower Concerns

A House committee is preparing to do battle with the Consumer Financial Protection Bureau with a new hearing that will feature testimony from a whistleblower on alleged discrimination and retaliation within the bureau. 

The battle might be one-sided, however, as the CFPB isn’t planning on sending anyone to the Financial Services Committee Oversight and Investigations Subcommittee’s April 2 hearing. 

The show must go on, says Rep. Patrick McHenry (R-N.C.), chairman of the subcommittee, who indicated on Friday that the hearing will go forward with or without the CFPB’s participation. 

“Discrimination and retaliation are unacceptable, and the Subcommittee next week will hear from a CFPB whistleblower who has come forward with allegations of discrimination and retaliation that have been confirmed by an independent investigator who was hired by the CFPB,” he said in a statement. “It’s unfortunate and deeply troubling that the CFPB refuses to answer questions about these allegations, particularly when the Bureau’s grounds for doing so are patently frivolous in light of the fact that their employee is voluntarily appearing to tell her story.” 

The hearing stems from allegations that the CFPB has discriminated against its employees and engaged in retaliatory behavior, based on information obtained by the American Banker and other complaints filed by CFPB employees. 

“The revelations uncovered in the American Banker story are extremely troubling,” said McHenry. “Coupled with the significant number of discrimination claims filed by CFPB employees, this raises serious questions about the management of the Bureau.”

Written by Alyssa Gerace

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