The Consumer Financial Protection Bureau (CFPB) will open its Consumer Advisory Board and Councils meetings to the public in an effort to provide more transparency to stakeholders and the public. Since these groups were established in 2012, these groups have provided the CFPB with information about emerging trends and practices, allowed it to hear directly from small financial institutions, and the Academic Research Council has provided technical and scientific advice to its Office of Research. Since its inception, the bureau has made membership information, meeting summaries and notices of meetings available.
“Some stakeholders have requested even more openness, however – and we’ve taken those requests to heart,” the CFPB stated.