Mulvaney Fires Consumer Advisory Board Members

Mick Mulvaney, acting Director of the Consumer Financial Protection Bureau, fired members of the Bureau’s Consumer Advisory Board (CAB) on June 6, 2018.  Mulvaney’s decision to terminate the CAB members follows recent criticism of the CFPB by 11 members of the CAB.  Mulvaney also cancelled two scheduled meetings with the CAB.  Mulvaney is required by law to establish a CAB consisting of 25 members and meet with the CAB at least twice a year.

Anthony Welcher, the Bureau’s Policy Associate Director for External Affairs, informed the advisory board members of the decision on a conference call.  The terminated CAB members were told they were not permitted to reapply.

A new CAB will be formed in an effort to streamline the CAB’s operations and reduce costs.  No new meetings are scheduled with the CAB until the appointment of a new CAB.