Congresswoman Beatty Participates in House Financial Services Committee Hearing on the CFPB’s Semi-Annual Report to Congress and Director Cordray’s First Testimony

Beatty Participates in House Financial Services Committee Hearing on the CFPB’s Semi-Annual report to Congress and Director Cordray’s First Testimony

(Washington, D.C.) – Congresswoman Beatty (OH-03) participated in a House Financial Services Committee hearing on the Consumer Financial Protection Bureau’s semi-annual report to Congress.

Today, Congresswoman Joyce Beatty delivered an opening statement before the House Financial Services Committee regarding Consumer Financial Protection Bureau (CPFB) Director Richard Cordray’s long anticipated testimony to Members of the Committee. 

“I want to extend a sincere thanks for you being here. I have never been prouder or more honored to serve here. I'd certainly like to disclose that I have known Mr. Cordray for a number of years.

“I had the proud honor, when he was the Franklin County treasurer, as well as the state of Ohio -- our home town treasurer -- that we had the opportunity to work across the breadth of that state, making a difference in lives, whether it was financial literacy, home mortgage, looking at credit and protecting folks -- your being here makes a difference.”

“Ditto to everything my other colleagues have said. Let me just say, to this body here, he has a proven track record -- a track record of integrity, transparency and scholarship.”

“I am pleased that you are here; I look forward to working with you. I make a commitment to support your endeavors. Job well earned.”

Congresswoman Beatty also had the opportunity to question Director Cordray about CPFB’s efforts to comply with Section 342 of the Dodd-Frank Act which established within the Bureau an Office of Minority and Women Inclusion (OMWI).

After the hearing, Congresswoman Beatty responded to Director Cordray’s testimony.

“I found Director Cordray’s testimony extremely thoughtful and thorough. It is clear that he is working diligently on behalf of our nation’s consumers as Director of the Consumer Financial Protection Bureau.”

“I was glad to have to opportunity to question Director Cordray on the Bureau’s participation in OMWI and look forward to reviewing the CPFB’s final standards on how it plans to implement this important program.”

Congresswoman Beatty and CFPB Director Cordray have a long-standing relationship.  Prior to coming to Washington, Congresswoman Beatty and then Ohio Treasurer Richard Cordray worked to increase the financial literacy of Ohio students and served as co-chairs of the Ohio Commission for Personal Finance Education.  Beatty later successfully had financial literacy coursework placed into the core curriculum for the state’s high school students.

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Greg Beswick I Rep. Joyce Beatty (OH-03) I District and Communications Director I 614.220.0003