The CFPB said that it will improve transparency for its advisory council meetings by welcoming the public to attend the meetings or view a live stream of the proceedings. The bureau has four councils composed of consumer advocates, community bankers, credit union representatives and academics.
The CFPB’s action follows calls by House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Rep. Sean Duffy (R-Wisc.) earlier this year to open the gatherings in keeping with the principles of the Federal Advisory Committee Act.
The CFPB’s Community Bank Advisory Council has met four times since October 2012.