2018-06-07 —

In his latest action, Mulvaney moved on Wednesday to effectively dismantle the agency's consumer advisory council. "It's quite clear that we've been fired," said Kathleen Engel, a law professor at Suffolk University and a member of the CFPB's Consumer Advisory Board.

... under Mulvaney, the CFPB delayed a new payday lending regulation and dropped an investigation into one payday lender that contributed to his campaign.


In a letter to advisory board members about Mulvaney's latest move, the CFPB said it will continue consumer advisory groups but will "reconstitute" them with "new, smaller memberships. Smaller memberships will ensure streamlined discussions about the Bureau's policy priorities and needs in a productive manner."

Consumer Advisory Board members said the move, along with previous steps, signal the "destruction from within" of the CFPB.

"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," Ann Baddour, who chairs the board, said in a statement.


She said some of the issues the Consumer Advisory Board was working on with CFPB staff included mortgage abuses affecting seniors that put some in foreclosure, unfair student loan practices, and illegal debt collection practices.

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