Law360 ran an article that originally published as an April 16 blog post by McGuireWoods attorneys Matthew Orso and Joshua Davey. In the article, the authors discuss a common complaint against the Consumer Financial Protection Bureau (CFPB) – that it wields too much power without sufficient accountability – and they evaluate a possible solution to this problem. The U.S. House of Representatives recently passed a bill that would subject the CFPB to the requirements of the Federal Advisory Committee Act, which requires that committee and subcommittee meetings be open to the public.
Published on May 4 under the title “Chipping Away At The CFPB’s Clandestine Activities,” the Law360 article is available to subscribers at www.law360.com. The piece originally ran as a Subject to Inquiry blog post that is still available online: “Rogue Agency or Champion of Consumers? House Votes for CFPB Transparency.”