4:29 PM » CFPB Should Let the Sunshine In to their Closed-Door Meetings
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To mark " Sunshine Week ," a national initiative launched by the media to promote open government, Financial Services Committee Chairman Jeb Hensarling (R-TX) is calling on CFPB Director Richard Cordray to end the bureau's closed-door meeting policy for its four advisory councils. "Instead of operating behind closed doors, it's time for the CFPB to live up to its oft-stated commitment to transparency and openness. In the interest of true, genuine transparency and open government, Director Cordray can and should use 'Sunshine Week' to take immediate steps that bring the CFPB into the sunlight," said Chairman Hensarling. The Bipartisan Policy Center has also criticized the CFPB for closing its advisory group meetings to the public. The CFPB claims on its website that "Transparency is at the core of our agenda You deserve to know what we're doing for the American public and how we are doing it." However, four advisory groups created by the CFPB conduct virtually all of their business behind closed doors - refusing requests by members of the public and even a member of Congress to attend them. The meetings are also closed to the press. For example, the agenda for the CFPB's Consumer Advisory Board's last meeting shows only two hours - out of two days' worth of meetings - were open to the public. The CFPB's advisory groups - which include the Community Bank Advisory Council, the Credit Union Advisory Council, and the Academic Research Council in addition to the Consumer Advisory Board - are made up of industry representatives, consumer activists and academics. "What goes on at these meetings?" asked Congressman Sean Duffy (R-WI), a member of the Financial Services Committee who requested to attend the Consumer Advisory Board's February meeting. "If the CFPB is as committed to transparency as it claims, then why was I denied entry when I asked to attend?" CFPB...