This bill would require all committees and subcommittees of the Consumer Financial Protection Bureau (CFPB) to comply with the Federal Advisory Committee Act (FACA) — requiring them to publish meeting schedules and agendas, hold open meetings when possible, and publish summaries of their meetings.
"Ensuring that consumers get the information they need to make the financial decisions they believe are best for themselves and their families — that prices are clear up front, that risks are visible, and that nothing is buried in fine print. In a market that works, consumers should be able to make direct comparisons among products and no provider should be able to use unfair, deceptive, or abusive practices."
If passed, this bill would also amend the Consumer Financial Protection Act to specifically apply FACA to committees formed through the CFPB. The CFPB would also be responsible for creating a government-wide database for congressional oversight and public availability.