Consumer Financial Protection Bureau building in Washington, D.C. Photo by Diego M. Radzinschi
The CFPB is in the process of selecting new members of its Credit Union Advisory Council and will announce the panel's membership later this summer, an agency spokesperson said Tuesday.
In June, Acting CFPB Director Mick Mulvaney disbanded the council, as well as a citizens advisory group and a community bank committee. The citizens panel is required under the Dodd-Frank Act.
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Members of the three groups had been appointed by Mulvaney's predecessor, Richard Cordray, an Obama Administration nominee.
Mulvaney gave several reasons for disbanding the group, including an announcement that agency officials wanted to find different ways of interacting with the public and stakeholders.
CFPB officials said late last month, that agency officials had held three roundtables with stakeholders to discuss their requests for information about agency activities.
Mulvaney has formally asked for information on most agency activities.
He is serving as acting director until a permanent director is confirmed. President Trump has nominated Kathy Kraninger as permanent director, but she has not yet been confirmed by the Senate.
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