Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senators press Powell on CFPB pause and whether private actors accessed Treasury payment systems
Summary
Senators questioned Federal Reserve Chair Jerome H. Powell about a temporary stand‑down at the Consumer Financial Protection Bureau and media reports about private attempts to access Treasury payment systems; Powell said the Fed executes payments as Treasury's fiscal agent and committed to notify the committee if it learns of any access attempts.
Senators pressed Federal Reserve Chair Jerome H. Powell on operational risks created by recent actions at the Consumer Financial Protection Bureau and on media reports that private actors sought access to Treasury payment systems.
Sen. Elizabeth Warren, the committee's ranking member, warned that recent actions at the CFPB had effectively "shut down the CFPB" and left no federal examiner for the $18 trillion consumer lending market. She said that canceled…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
