CFPB Preaches Transparency, Practices Secrecy -- Until Now
Duffy Bill Passes House With Strong Bipartisan Support
Washington D.C. – House Financial Services Oversight & Investigations Subcommittee Chairman Sean Duffy’s bill to bring greater transparency to the historically opaque Consumer Financial Protection Bureau (CFPB) passed the House of Representatives by an overwhelmingly bipartisan vote of 401 to 2 on Monday. Click the image below to watch an excerpt from Rep. Duffy’s remarks during debate on H.R. 1265, the Bureau Advisory Commission Transparency Act:
During debate on H.R. 1265, Rep. Duffy offered, “This bill ensures we as an American family can see what takes place at the CFPB – it makes complete sense.” He continued, “This is about making government work; making it accountable and transparent. That should start at these meetings.”
Recently, the CFPB proved, once again, that it is secretive business as usual at the agency. Despite announcing that they would comply with the Federal Advisory Committee Act and open their meetings to the public, the CFPB’s Credit Union and Community Bank Advisory Committees continue to meet behind closed doors. Since the CFPB will not be forthcoming with the American people, this bill will mandate it.
To view Rep. Duffy’s full comments from debate on the bill, click here.