Consumer Bureau Irks Advisory Board Members By Delaying Meetings

Continued postponements of meetings of the Consumer Advisory Board attached to the Consumer Financial Protection Bureau prompted 11 of the panel’s 25 nongovernmental members to protest acting bureau director Mick Mulvaney’s failure to convene in-person meetings, citing a possible violation of the 2010 Dodd-Frank Financial Reform Act. In a Monday conference call, the subset of the consumer advocates, industry representatives and academics on what the agency calls its “crowdsourced” body expressed concerns about the dramatic changes in policy and direction under Mulvaney who doubles as President Trump’s budget director and who is a longtime critic of the bureau’s very existence.