For Release: June 1, 2018
Kelli Johnson, Texas Appleseed, (512) 473-2800, x103, firstname.lastname@example.org
Jan Kruse, National Consumer Law Center, (617) 542-8010, email@example.com
Nehama Rogozen, California Reinvestment Coalition, (415) 864-3980, firstname.lastname@example.org
June 4 Press Call Regarding Consumer Advisory Board of the
Consumer Financial Protection Bureau
Bureau’s Actions Undermine Ability of Consumer Advisory Board to Comply
with its Statutory Mandates, Members Raise Concerns Regarding Direction of Bureau
WHAT: Press call with Q-and-A
WHO: A group of consumer advocates who serve on the CFPB’s Consumer Advisory Board (CAB). These CAB members work directly with families and communities to support financial well-being and consumer protection. This group represents a subset of the full Consumer Advisory Board and only speaks on behalf of this subset of members.
BACKGROUND: Consumer advocates will outline their concerns related to current actions by the CFPB, which is undermining work to ensure consumers are offered protections and treated fairly in the financial marketplace. Under the direction of Acting Director Mick Mulvaney, the CFPB is failing in its mandate to convene in-person meetings of the Consumer Advisory Board, as required by the governing law for the Bureau, the Dodd-Frank Act. The current Administration has taken further harmful actions, such as changing the mission of the organization and restructuring key offices without stakeholder or public input.
- Ann Baddour, CAB Chair
- Lynn Drysdale, CAB Vice Chair
- Select CAB members will be available during Q-and-A
WHEN: Monday, June 4, 2018, at 2 p.m. EST / 11 a.m. PST
Please join the press phone conference from your computer, tablet or smartphone. You can also dial in using your phone.
United States: +1 (669) 224-3412
Access Code: 311-697-357
ABOUT: The Consumer Advisory Board is a statutorily required body established by the Consumer Financial Protection Bureau, through a public process, to advise and consult about the work of the Bureau. Members are external experts, industry representatives, consumers, community leaders, and advocates based in various parts of the U.S. The CAB represents various sectors, including academia, banks, credit card providers, mortgage lenders, fintech, venture capital and more. The CAB helps inform about emerging practices or trends in the consumer financial products and services industry and shares analysis and recommendations. The CAB is charged with identifying and assessing the impact of emerging products, practices, and services on consumers and other market participants.
Participants (affiliations listed for informational purposes only):
Jacksonville Area Legal Aid
Notre Dame Law School
California Reinvestment Coalition
Empire Justice Center
|Lisa J. Servon
University of Pennsylvania
|Chi Chi Wu
National Consumer Law Center
Interfaith Center on Corporate Responsibility