Federal regulators who monitor Wall Street are paid big bucks
Federal employees at several financial regulatory agencies are earning six-figure salaries according to federal records obtained by Judicial Watch. For example, the new Consumer Financial Protection Bureau or CFPB – created by the 2010 Dodd-Frank financial regulation law – has hired a dozen employees at more than $225,000 per year
In addition to the new CFPB, the personnel documents come from Wall Street regulatory agencies including the Commodity Futures Trading Commission (CFTC), the Office of the Comptroller of the Currency (OCC), the Treasury Department, and the Securities and Exchange Commission (SEC).
In all, the financial agencies reported a total of 228 employees making $225,000 or more per year, not including bonuses.
“These new salary records are bound to cause controversy. No wonder Washington, D.C. is the wealthiest area of the country,” said Tom Fitton, president of Judicial Watch.
“And the secrecy surrounding basic salary information of public employees shows an arrogance of power and contempt for transparency in an administration that promised the very opposite.”