Toomey to Financial Regulators: Whistleblowers Wanted

Saying that he has received reports of misconduct at federal financial regulatory agencies, Senate Banking Committee ranking member Sen. Patrick Toomey of Pennsylvania is seeking employees willing to blow the whistle on colleagues.

“It has come to my attention through confidential whistleblowers that federal employees at multiple agencies covered by the jurisdiction of the Senate Committee on Banking, Housing, and Urban Affairs, and represented by the National Treasury Employees Union have alleged experiencing harassment, discrimination, or other forms of abuse by agency officials in recent months,” Toomey wrote in a letter to National Treasury Employees Union National President Anthony Reardon earlier this month.

He asked Reardon to advise employees at the agencies the union represents that they may confidentially contact Banking Committee Republican staff with any information they may have concerning “misconduct or abuse, such as harassment, discrimination or retaliation, as well as the wasteful use of taxpayer dollars and fraud in federal programs.”

In May, Toomey established a whistleblower resource for people to use to report misconduct allegations.

Toomey did not say which federal agencies have whistleblowers who have contacted him.

The Treasury Employees Union represents employees at several agencies, including the National Credit Union Administration and the Consumer Financial Protection Bureau.

Earlier this year, Toomey and other Banking Committee Republicans raised concerns about reports that the Biden Administration was removing senior career employees at the CFPB and replacing them with “handpicked loyalists.”

The CFPB, under new Director Rohit Chopra has taken a much more activist role than the agency took in the Trump Administration, when Kathleen Kraninger was director.

Chopra has not directly responded to Toomey’s allegations. However, he recently raised concerns that some former agency employees may have a financial incentive to exploit confidential information to which they had access when they were CFPB employees.

He issued guidance to agency employees to report any instances of inappropriate conduct or communications by former CFPB employees.

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