Mick Mulvaney strikes again at the CFPB

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Acting CFPB Director Mick Mulvaney has sought to overhaul and undermine the bureau since taking over in November 2017.The CFPB just told consumer advisers their services are no longer needed.

The Consumer Financial Protection Bureau, the US government’s top consumer watchdog and top regulatory nemesis of the Trump administration, is disbanding all of its advisory board and councils, an official confirmed Wednesday.

In an email, all the members of the key groups that advise the agency — like the Consumer Advisory Board, the Academic Research Council, the Community Bank Advisory Council, and the Credit Union Advisory Council — were told their services are no longer needed.

New groups will be formed to “ensure streamlined discussions around the Bureau’s policy priorities and needs in a productive manner,” according to the email. Current members aren’t invited to reapply.

The bureau was already scaling back its boards’ efforts. The 25-member Consumer Advisory Board, mandated by Dodd-Frank to “advise and consult” the CFPB, is supposed to convene twice a year. It hasn’t met since Mick Mulvaney, a critic of CFPB, took over the agency last year.

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https://www.vox.com/policy-and-politics/2018/6/6/17435148/cfpb-mick-mulvaney-consumer-advisory-board