Durbin Joins Joint Statement On Bill Pulte Shutting Down FHFA Watchdog

Durbin Joins Joint Statement On Bill Pulte Shutting Down FHFA Watchdog

WASHINGTON - U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, joined Congressional Democratic leaders to release the following joint statement regarding Federal Housing Finance Agency (FHFA) Director Bill Pulte's unlawful move to shut down the FHFA Inspector General through severe, unnecessary budget cuts. Along with Durbin, the statement is signed by: Senate Democratic Leader Chuck Schumer (D-NY); House Democratic Leader Hakeem Jeffries (D-NY); Sen. Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee; Sen. Gary Peters (D-MI), Ranking Member of the Senate Homeland Security and Governmental Affairs Committee (HSGAC); Sen Richard Blumenthal (D-CT), Ranking Member of the Senate Permanent Subcommittee on Investigations; Rep. Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee; Rep. Jamie Raskin (D-MD), Ranking Member of the House Judiciary Committee; and Rep. Robert Garcia (D-CA), Ranking Member of the House Committee on Oversight and Government Reform.

"Bill Pulte is shutting down the independent watchdog that is responsible for investigating his misconduct-like his efforts to weaponize private mortgage data in sham investigations against the President's perceived political enemies. Apparently it wasn't enough for President Trump to remove the acting inspector general last November-now Pulte wants to dismantle the office entirely. Pulte's corrupt crusade to protect himself and President Trump from accountability will likely result in the firing of approximately 40 law enforcement personnel who protect families from mortgage fraud. Bill Pulte should resign, and if he does not, Congress must hold him accountable."

Last night, FHFA put out a press release claiming it was "right-sizing" its Inspector General Budget. But the OIG communicated to bipartisan Senate and House committee staff that Pulte's budget cuts would require the OIG to wind down its operations and cut nearly its entire staff.

In addition to its role in providing oversight on FHFA mismanagement, the FHFA OIG fulfills a unique and critical oversight function of the integrity of the US mortgage market alongside partners at HUD and DOJ, including by stamping out real threats of mortgage fraud.

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