1. Mulvaney Dismisses Incumbents on CFPB's Consumer Advisory Board

    Mulvaney Dismisses Incumbents on CFPB's Consumer Advisory Board

    Just days after postponing another scheduled meeting of its statutorily required Consumer Advisory Board , the acting head of the Consumer Financial ...

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    1. Today we begin the process of transforming the bureau's Stakeholder Outreach and Engagement work, which includes transitioning from former modes of outreach to a new strategy to increase high-quality feedback.
    2. In addition to the advisory groups, the bureau will increase its strategic outreach to encourage intimate conversations, sharing information, and developing partnerships focused on consumers in underserved communities and geographies.
    3. Members questioned how Acting Director Mulvaney could have come to this conclusion based on the fact that there had been no meaningful interaction with members.
    4. Firing the current CAB members is another move indicating Acting Director Mick Mulvaney is only interested in obtaining views from his inner circle, and has no interest in hearing the perspectives of those who work with struggling American families.
    5. Apparently Acting Director Mulvaney is willing to listen to industry lobbyists who make campaign contributions, but not the statutorily appointed Consumer Advisory Board members.
    6. Rather than putting the years of knowledge and experience of this legally required Consumer Advisory Board to work on behalf of consumers, Mulvaney is thumbing his nose at the law.
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