Hensarling: CFPB Oversight by Subpoena

Congress may not have direct oversight of the CFPB, but that doesn't mean it is without options. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee, has announced a new policy that will give the CFPB a pair of two-week windows to respond to written committee requests, and if the bureau fails to adequately respond, the committee may issue a subpoena. The committee has several outstanding document requests, ranging from 82 to 378 days. [3/5/15]