Consumer group presses Capito to announce husband’s new banking job

But Public Citizen maintained Tuesday that the congresswoman needed to announce her husband’s new position before leading debate on bills that would affect the banking industry.

“Details of how his position will be affected by the actions of his wife, who chairs an important subcommittee, are not entirely clear,” said Bartlett Naylor, financial policy advocate for the group’s Congress Watch division. “At the very least, we ask Chairman Capito to disclose her husband’s new position at one of the nation’s largest banks at the beginning of tomorrow’s markup.”

In a letter sent to the lawmaker, the group asked for details about his new responsibilities, income and what relationship his company has with the Wells Fargo bank holding company.

Capito is also the sponsor of a bill that would delay the implementation of new limits on debit card fees, which has been a top priority for the banking industry. Public Citizen acknowledged that it appeared her husband is “unlikely to be directly affected” by the bill.

One of the bills slated for markup tomorrow would replace the still-unnamed director of the CFPB with a bipartisan commission, which Capito said Tuesday would provide a “more balanced approach” to the bureau’s work while providing for smoother transitions between administrations.

Another measure would make it easier for the new Financial Stability Oversight Council to overrule CFPB regulations, and a third draft measure would postpone the agency’s assumption of new authority if it is still lacking a director in July, when it is scheduled to begin work.

Elizabeth Warren, the White House adviser charged with setting up the agency, has opposed any effort to rework the agency as attempts to “defund, delay and defang” the bureau.