Rep. Sean Duffy (R-Wis.) recently introduced a bill that would ensure provisions of the Federal Advisory Committee Act apply to the Consumer Financial Protection Bureau and its advisory committees.
FACA was enacted in the 1970s to ensure that Congress and the public know what is being discussed in government consumer advisory meetings, who attends them and what the cost is to taxpayers.
Duffy said he requested to attend a meeting of the CFPB’s Consumer Advisory Committee in February but was notified via e-mail that the request could not be accommodated.
Duffy, a member of the House Financial Services Committee, said the CFPB’s secrecy raises questions about what’s going on in the meetings.
“If the CFPB is not going to take steps to maintain the transparency it claims it is committed to, we will take the legislative steps for them,” Duffy said. “My bill, H.R. 4262, mandates that FACA must apply to all of the CFPB’s advisory committees. The people have a right to know what their government is up to, and the government has a responsibility to provide that transparency.”
House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) joined Duffy’s call for CFPB transparency last week.
“Instead of operating behind closed doors, it’s time for the CFPB to live up to its oft-stated commitment to transparency and openness…,” Hensarling said.
CFPB Director Richard Courdray said CFPB advisory committee meetings are not open to the public because FACA does not apply to the CFPB.