CFPB to hold first open Consumer Advisory Board Meeting
As we previously reported, the CFPB announced that it would be opening its advisory group meetings to the public. The CFPB will be holding its first Consumer Advisory Board meeting that is open to the public on June 18, in Reno, Nevada. The meeting’s agenda includes comments by Deputy Director Steve Antonakes, and will feature discussions on the Title XIV mortgage rules. Panels will discuss trends and themes in the marketplace, improving consumer outreach and education, and mortgage issues relating to older Americans.
The June 18 meeting will mark the beginning of the CFPB’s new open-door policy, and all full Board and Council meetings will be available by livestream and open to the public. We have been critical of the CFPB’s practice of holding closed advisory group meetings, and we were joined by industry as well as members of the House Financial Services Committee in calling for increased transparency at these meetings. We are happy to see that the CFPB is heeding calls from all sectors for more transparency, and we believe that opening advisory group meetings is a good first step.
For information on attending the Consumer Advisory Board Meeting, please click here.