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Chief Financial Officer Agostini before the House Financial Services Committee
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- The majority of my career has been spent working as a senior budget official for some of the largest municipalities in the US, including: the city of Philadelphia (budget director, 2008-2010), Milwaukee County (fiscal and budget administrator, 2004-2006), the city and county of San Francisco (various positions, 1988-1991 and 1996-1998), and the city of Milwaukee, (Budget Director 1994-1996).
- Congress created the Bureau — an independent agency within the Federal Reserve System — as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), in the wake of the most severe financial crisis since the Great Depression.
- Notwithstanding the challenges faced in being a start-up agency with the broad mandate to protect consumers, the Bureau has attracted and continues to attract talented professionals from diverse backgrounds, including from industry, federal and state government agencies, academia, non-profit organizations, and other sectors.
- On May 9, the Federal Labor Relations Authority held an election where Bureau employees voted to join the National Treasury Employees Union (NTEU), a federal union that also represents employees at other financial regulators, including the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Securities and Exchange Commission.
- In the Dodd-Frank Act, Congress followed a long-established precedent in providing the Bureau with funding outside of the congressional appropriations process to ensure full independence as the Bureau supervises and regulates providers of consumer financial products and services and protects consumers.
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