House Republican to Probe Federal Agency Dodd-Frank Spending
Republican lawmakers aiming to rein in the federal budget have asked U.S. agencies implementing the Dodd-Frank financial-rules overhaul to provide a full account of their spending, hiring and contracting.
House Financial Services Committee Chairman Spencer Bachus and Representative Randy Neugebauer have asked nine agencies, including the Treasury Department, SEC, and CFTC to lay out the new law's effect on their fiscal 2011 budget requests. "It is our responsibility to ensure that mandates are not overly burdensome or wasteful of taxpayer money," Bachus and Neugebauer, who leads the Financial Services oversight and investigations subcommittee, said in a letter dated today. They requested a response by Feb. 10.
Publication
Reuters
Date
January 28, 2011
Cross References
Dodd-Frank Act, Title VII