"We Cannot Accommodate the Congressman's Request."
Duffy Bill Would Force Transparency at CFPB
Washington D.C. – In conjunction with "Sunshine Week," a national effort to promote government transparency, U.S. Congressman Sean Duffy (WI-07) introduced a bill that specifies that the Federal Advisory Committee Act (FACA) apply to every Consumer Financial Protection Bureau (CFPB) advisory committee. FACA was introduced in 1972 to ensure that Congress and the public know what's being discussed in government consumer advisory meetings, who is attending them, and how much they are costing taxpayers.
Rep. Duffy requested to attend the February 26th and 27th meeting of the CFPB's Consumer Advisory Committee, which under FACA should be completely open to the public. His staff was told via email, "We cannot accommodate the Congressman’s request."
Only the CIA and the Federal Reserve Open Market Committees were meant to be exempt from FACA. In a statement offered upon release of the bill, Rep. Duffy, who sits on the House Financial Services Committee questioned, "What is the CFPB doing that is on par with the CIA? It makes everyone want to ask, 'what exactly goes on in these meetings?'"
He continued, "If the CFPB is not going to take steps to maintain the transparency it claims it is committed to, we will take the legislative steps for them. My bill, H.R. 4262, mandates that FACA must apply to all of the CFPB's advisory committees. The people have a right to know what their government is up to, and the government has a responsibility to provide that transparency."
Text of H.R. 4262 can be found here.