On June 6, 2018, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled “Improving Transparency and Accountability at the Bureau of Consumer Financial Protection.”

The members of the panel of witnesses will be :

  • Steven G. Day, President, American Land Title Association
  • Richard Hunt, President and CEO, Consumer Bankers Association
  • Kate (Larson) Prochaska, Director, The Chamber of Commerce
  • Elmer K. Whitaker, Chief Executive Officer, Whitaker Bank Corporation of Kentucky

The Committee Memorandum states that the hearing will discuss the recommendations for legislative changes to the CFPB made by Acting Director Mick Mulvaney in the CFPB’s Semi-Annual Report issued in April 2018 as well as “other reforms that would promote greater transparency and accountability at the Bureau.”  (We note that Whitaker Bank’s inclusion as a witness is surprising since, based on its publicly available financial statements, its total assets appear to be substantially below the $10 billion threshold for a bank to be subject to the CFPB’s supervision or enforcement authority.)