Lawmakers blast CFPB secrecy

by Adam Smith09 Apr 2014
Republican lawmakers have continued to take the CFPB to task over a lack of transparency.

At Tuesday’s House Financial Services Committee hearing, Rep. Sean Duffy (R., Wisc.), questioned CFPB general counsel Meredith Fuchs on the CFPB’s advisory council meetings, The Wall Street Journal has reported. Duffy was denied permission to attend a meeting of the CFPB advisory committee in February, and has introduced legislation to require public meetings for the advisory panel.

“Let us see what kind of advice you’re getting (and) who is giving that advice. It would serve the public very well,” Duffy said.

Duffy said the CFPB released scant information on its advisory meetings, while other regulators did a better job of providing detailed minutes. He questioned the CFPB’s need for secrecy, saying that the Bureau was not discussing sensitive issues.


Should CFPB have more supervision over credit agencies?