The Consumer Financial Protection Bureau has issued a notice, via their blog, that it is ending its closed-door policy for its Consumer Advisory Board and council meetings, and will open the meetings to the public. Those meeting's members, consisting of the Community Bank Advisory Council, the Credit Union Advisory Council, the Academic Research Council, and the Consumer Advisory Board, provide the CFPB with information about emerging trends and practices and allow the CFPB to hear directly from small financial institutions.
The CFPB stated that the change is intended "to provide more transparency and to be responsive to the requests [for more openness] we've received."
The CFPB also announced that it will implement the new policy beginning with the meeting of its Consumer Advisory Board scheduled for June 18, 2014, at the Truckee Meadows Community College in Reno, Nevada.
During June 18 meeting, Director Cordray will give remarks, and the board will discuss trends and themes in the mortgage market and the new resources available to consumers in the housing market. The public may attend or watch the live stream of the meeting.
Download the meeting agenda.