CFPB’s Kraninger reverses Mulvaney changes to advisory board
Posted Mar 21, 2019 01:47:08 PM.
This article is more than 5 years old.
NEW YORK — The new head of the Consumer Financial Protection Bureau is reversing yet another policy her predecessor put in place at the financial watchdog.
CFPB Director Kathy Kraninger said Thursday that she would restore the bureau’s advisory boards back to two-year terms, and would allow half of the board’s existing membership to continue serving. The agency would also increase the number of board meetings per year from two to three.
Mick Mulvaney, who ran the CFPB for President Donald Trump on an interim basis until last December, dissolved the Consumer Advisory Board and other groups, which act as a sounding board on important economic and financial issues as well as policy.
Consumer groups had expressed outrage at the move, saying it stopped important dialogue between the CFPB and outside groups.
The Associated Press
