CFPB To Dissolve Consumer Advisory Board, 2 Other Groups

Law360 (June 6, 2018, 9:51 PM EDT) -- The Consumer Financial Protection Bureau told members of its consumer advisory board on Wednesday that it's letting them go, two days after some board members accused the agency's acting director, Mick Mulvaney, of trying to sideline the statutorily-required group.

The CFPB said it's rebooting the 25-member consumer advisory board as well as two other advisory councils of outside experts. Those groups will eventually see their headcounts reduced and replaced with new slates of appointees later this year, and there won't be any more meetings in the meantime, according to a CFPB email sent to the groups' members.

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