A fence stands in front of the U.S. Capitol building in Washington, D.C. Photographer: Al Drago/Bloomberg

The new ranking member of the House Financial Services Committee is asking the Inspector General of the federal banking agencies, including the NCUA and CFPB, to report on recommendations the agencies have failed to implement.

“In the most recent fiscal year, the IGs issued recommendations for reform with the potential to save taxpayers approximately $45.1 billion,” Rep. Patrick McHenry (R-N.C.), wrote in a letter to the IGs. “The savings arising from the IG community’s recommendations can only be realized, however, when the agencies implement them.”

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David Baumann


Credit Union Times

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