Barney Frank: “Members often come to the floor to talk about inspector general reports about agencies. And they are almost always…”

“Members often come to the floor to talk about inspector general reports about agencies. And they are almost always critical of reports--reports that document shortcomings. I'm very proud today to come to the floor to present excerpts from a joint report from the inspectors general of the Federal Reserve and the Treasury, in which they give a perfect set of marks to the new Consumer Financial Protection Bureau. Those two agencies looked into this agency. This is an agency that is being set up, under fire, unfortunately, in a somewhat unusual situation. And what the inspectors general reported is that they've done everything right; that ``they identified and documented mission-critical activities and legislative mandates''; that the CFPB has developed and is implementing appropriate plans. {time} 1020 They found that they are implementing appropriate plans that support ongoing operations as well as the transfer of employees and functions. They created several agency-wide documents that identified and tracked priorities. ``We found that the agency has completed elements of its implementation plans and is making progress on others.'' It is a joint report from two inspectors general that says they've done everything right; so I want to put that forward. I want to put it forward, in part, because the individual most singularly responsible for its great success, as she was for the idea and the creation of this agency, is Elizabeth Warren.…”