July 2, 2014

FLASHBACK: House Dems Vote Against Reforming CFPB, For Wasteful Spending

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The Washington Examiner reported today on a “scathing” report from the Inspector General that details the excessive spending for renovations to the Consumer Financial Protection Bureau’s (CFPB) Washington headquarters. The costs of the renovations, originally priced at $55 million, have nearly quadrupled to $215 million.

Who could have possibly known the budget would grow to almost 4 times its original size? House Republicans, it turns out. That didn’t stop House Dems from rejecting a bill that would have reformed the CFPB and subjected its budget to the regular appropriations process.

Several vulnerable House Democrats had no interest in applying that kind of accountability and scrutiny to the agency, and now taxpayers are left footing the bill for this outrageous wasteful spending.