“When push comes to shove, Mick Mulvaney will always stand up for the powerful Wall Street special interests that have had his back. He’ll burry his head in the sand so he doesn’t have to hear the voices of consumers, experts, and those who want him to fulfill the mission of the CFPB,” Frisch added. “Consumers deserve a champion not a corporate shill.”

“Apparently Acting Director Mulvaney is willing to listen to industry lobbyists who make campaign contributions, but not the statutorily appointed Consumer Advisory Board members,” said National Consumer Law Center (NCLC) attorney Chi Chi Wu, another fired CAB member. “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.”

The CFPB said in a statement that it “will continue to fulfill its statutory obligations to convene the Consumer Advisory Board and will continue to provide forums for the Community Bank Advisory Council and the Credit Union Advisory Council. The Bureau will continue these advisory groups and will use the current 2018 application and selection process to reconstitute the current advisory groups with new, smaller memberships.”

Ousted board member Max Levchin, founder of financial services company Affirm, rejected the agency’s claims that the decision was motivated by desires to diversify membership and save money. He also warned that “without this direct line to all stakeholders, CFPB’s job becomes much harder, perhaps nearly impossible.”

The announcement on Wednesday followed a report earlier this week by David Dayen at The Intercept that during Mulvaney’s tenure as head of the CFPB, the agency has ignored both rules and established precedent, cancelling two in-person board meetings and several conference calls with little notice.

“It’s disturbing to watch the current administration of this bureau do so much to undermine the bureau’s core,” Lynn Drysdale, then-vice chair of CAB, had told Dayen. “The present administration is more concerned with restructuring and installing political staff than protecting consumers.”

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