The CFPB recently announced in a blog post that it will make all of its outside advisory board and council meetings open to the public. The move is in response to complaints from industry groups and Republican lawmakers who called for more transparency from the bureau, which had previously provided only transcripts and other information from such meetings. Starting with the June 18 Community Advisory Board meeting, all CFPBs meetings with outside advisors will be open to the public and streamed live online.
This move is a big step toward appeasing Republicans in response to the mounting criticism that the CFPB lacks oversight and accountability. After Sen. Sean Duffy (R-Wis.) was denied entry to a February 26 Consumer Advisory Board meeting, he introduced legislation that would subject the CFPB to the Federal Advisory Committee Act.
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