A New CFPB Scandal – Cost Overruns for It’s New Lux Headquarters

The Daily Caller reports:

Renovation costs for the brand new Consumer Financial Protection Bureau headquarters have skyrocketed, posting 25 percent in cost overruns — significantly above the original budget set by the General Services Administration, according to a Daily Caller News Foundation investigation.

Original cost estimates for the CFPB’s renovation were estimated at $55 million, but the bureau ran up the proposed cost to $216 million. The Federal Reserve Inspector General rejected the proposal in 2014, saying there was no “sound basis” for the figure.

As the CFPB renovation costs continued to escalate, renovation was taken out of the CFPB’s hands and transferred to the General Services Administration (GSA). GSA’s budget, however, was nearly twice the original $55 million, hitting $99 million.

America's most crooked federal agency.