The House Financial Services Subcommittee on Oversight and Investigations will hold a hearing next week to examine allegations of discriminatory behavior by managers at the CFPB.
The hearing will discuss reports that agency managers have allegedly shown favoritism towards white employees in performance reviews used to issue raises and bonuses. The reports were first published in American Banker.
Additionally, HFSC Chairman Rep. Jeb Hensarling (R-Texas), Subcommittee Chairman Rep. Patrick Henry (R-N.C.) and Chairman of the Subcommittee on Financial Institutions and Consumer Credit Rep. Shelley Moore Capito (R-W.V.) will examine other allegations of discrimination based on sex, religion, age and national origin at the agency.
“The revelations uncovered in the American Banker story are extremely troubling,” McHenry said. “Coupled with the significant number of discrimination claims filed by CFPB employees, this raises serious questions about the management of the Bureau.”
During the hearing, the subcommittee will hear testimony from M. Stacey Bach, the assistant director of the CFPB’s Office of Equal Opportunity Employment, and Liza Strong, the director of employee relations at the CFPB. Robert Cauldwell, the president of the agency’s employee union, will also appear before the subcommittee.
The hearing is slated for 10 a.m. on April 2 in room 2128 of the Rayburn House Office Building.