ABA’s Hunter to Testify on CFPB Improvement Bills

ABA COO Mike Hunter will testify today at a House Financial Institutions Subcommittee hearing on legislative proposals intended to make the CFBP more accountable and transparent.

These bills are two of many options to address concerns about the role of the Bureau [CFPB] and its exercise of power. An important principle that underlies these and other bills is that there needs to be an effective check and balance on the Bureau's authority. We strongly support this principle of accountability and balance, and applaud Congressional efforts to assure an effective mechanism is in place to achieve it for the Bureau.

The hearing will examine bills that would move the CFPB to the Treasury Department and subject it to the same appropriations process as Treasury (H.R. 1355); remove the bureau’s director from the FDIC Board (H.R. 2081); and preserve the attorney-client privilege for information submitted to the CFPB (H.R. 3871).

Read Mike Hunter’s testimony.
Read the HFS witness list.