CULTURE OF CORRUPTION: House panels demand info on CFPB’s revolving door.

Two House committees are investigating former Consumer Financial Protection Bureau officials who now appear to be cashing in on their insider knowledge and contacts concerning mortgage underwriting rules they helped to write.

In a July 31 letter, leaders of the House Committee on Financial Services and the Committee on Oversight and Government Reform demanded documents from CFPB concerning Rajeev Date.

As previously reported by the Washington Examiner, Date was formerly CFPB’s deputy director and had served at one time as its acting director. He resigned in January, then opened a consulting firm two months later called Fenway Summer that specializes in advising companies on CFPB-related matters.

Signers of the letter said they were concerned about “the appearance of impropriety in Mr. Date’s planned activities for Fenway” and denounced the “lack of transparency” in the agency’s rules concerning former employees.

Just another argument for my revolving-door surtax.