CFPB Consumer Advisory Board Meets

February 25, 2016

On Thursday, February 25, 2016, the CFPB Consumer Advisory Board (CAB) met to discuss the Bureau’s strategic outlook for 2016-2017 and Financial Well-Being. In prepared remarks, CFPB Director Richard Cordray discussed the agency’s nine priorities for the next two years, including mortgage lending, student loans and servicing, consumer reporting, small business lending, financial tools for consumers, financial education, open-use credit market, debt collection, and arbitration. In addition to these priorities, he stated the Bureau will continue to focus on fair lending in the auto market, prepaid cards, and financial well-being of consumers.

 

Director Cordray noted, since its inception in 2011, the Bureau has focused two objectives: to deliver tangible benefits to consumers, and to build a great institution.  He revealed that, over the past year, the CFPB underwent an internal restructuring, titled “One Bureau,” aimed at breaking down silos and prioritizing resources to focus on identifying and eliminating consumer harm. 

 

In conjunction with the CAB meeting, the Bureau released a blog post, “Our priorities to ensure a fair marketplace” and fact sheet detailing the priorities.

 

 

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Don't miss the CFPB Forum session: "CFPB GPS: What Directs the Bureau and Where's it Going?" on Monday, March 7 at 2:45 p.m. during CBA LIVE 2016.  Former CFPB regulators will discuss the Bureau's nine priorities and offer their perspectives on what's to come from the agency.  Featured panelists include:

  • Meredith Fuchs | Senior Vice President, Chief Counsel, Regulatory Advisor, Capital One Bank
  • Lucy Morris | Partner, Hudson Cook, LLP
  • Kathleen Ryan | Counsel, BuckleySandler LLP
  • [ Moderator ] Cassandra Chandler | Senior Vice President, Data and Analytics Planning Executive, Consumer Operations, Bank of America Corporation