The 25 members of the Consumer Advisory Board, established by law as part of the Consumer Financial Protection Bureau, were told on a conference call Wednesday that the board would not meet again until new members are appointed. Some board members disagreed, and saw it as yet another step in the Trump administration's weakening of the consumer bureau since Mulvaney was named acting director in November. "Firing current members of the advisory board is a huge red flag in this administration's ongoing erosion of critical consumer financial protections that help average families," said Chi Chi Wu, a lawyer at the National Consumer Law Center and member of the board. On the first conference call, Anthony Welcher, policy associate director at the bureau, informed board members that the bureau was changing its plans. Board members on the call expressed alarm, especially considering that the bureau's new leadership had yet to meet with the board.

Source: CNN June 06, 2018 18:33 UTC