Chairman Jeb Hensarling of the House Committee on Financial Services questioned CFPB Director Richard Cordray regarding the impending renovation of the bureau’s building. Cordray reports that the $114 million renovation is mainly to bring the HVAC and electrical up-to-code. Hensarling expressed concern about the need for such an expensive renovation, noting that the OCC, not the CFPB, owns the building. Renovations will be overseen by the U.S. General Services Administration.
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