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Thursday, March 27, 2014

Cantor: CFPB Accountability Ingredient for Economic Growth

Increasing oversight of and accountability for the CFPB is part of the House GOP's agenda for "an America that works," House Majority Leader Eric Cantor (R-Va.) told attendees at ABA's Government Relations Summit. The CFPB is going after "the people who invest in and build this economy," he said, and needs additional oversight of its activities. Cantor discussed several CFPB accountability measures that have passed the House Financial Services Committee.

During a question and answer period, Cantor said that the current housing finance system is "unacceptable" and said he saw a way of moving forward, resolving differences between the Senate Banking Committee's reform approach and Financial Services Committee Chairman Jeb Hensarling's PATH Act.

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