USCC Applauds House Passage of CFPB Advisory Boards Actposted April 22, 2015
April 22, 2015 – Washington, D.C. – The U.S. Consumer Coalition released the following statement hailing the passage of H.R. 1195, the “Bureau of Consumer Financial Protection Advisory Boards Act,” in the House of Representatives. H.R. 1195 would require the Director of the Consumer Financial Protection Bureau (CFPB) to establish a Small Business Advisory Board at the CFPB and would codify the already established Credit Union Advisory Council and Community Bank Advisory Council.
The CFPB’s current structure allows for it to make unilateral policy decisions with little regard to the concerns of American small businesses and consumers. Congressman Pittenger’s bill would ensure the participation of small businesses in advising and consulting the Bureau on emerging regulations.
H.R. 1195 is one of several CFPB reform bills that the House has considered and approved in a bipartisan fashion. The US Consumer Coalition will continue to support efforts to make the Bureau accountable and more transparent to the American consumer.
The U.S. Consumer Coalition (USCC) is a grassroots consumer advocacy organization working to protect and expand access to free-market goods and services.