Watch live: Vought testifies before House on CFPB

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Office of Management and Budget (OMB) Director Russell Vought will testify before the House Financial Services Committee on Wednesday morning on the Consumer Financial Protection Bureau’s (CFPB) semiannual report.

Vought, since taking the reins of the CFPB, has quickly sought to crack down on its activities from funding freezes to blocking employees from conducting investigations or engaging with stakeholders, according to reports. A federal appeals court earlier this year also blocked the Trump administration from fully gutting its workforce.

The CFPB is an independent government agency responsible for protecting consumers in the financial sector. It was created in 2011 under the Obama administration, in the wake of the recession in the late 2000s.

The hearing is scheduled to begin at 10 a.m. EDT.

Watch the live video above.

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Russ Vought

Russell Vought

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