CFPB, Consumer Groups in Communications Breakdown

There hasn’t been much trust between consumer advocates and the Consumer Financial Protection Bureau since President Donald Trump’s team took over the agency last year.

Former CFPB Director Richard Cordray used to meet at least quarterly with consumer groups during his tenure to check in and trade ideas about how best to address problems bubbling up in the market.

Those regular check-ins have ended under acting Director Mick Mulvaney, who was appointed by President Donald Trump to lead the bureau after Cordray’s departure last Thanksgiving. Mulvaney’s meetings with consumer groups on at least two occasions have also included industry backed ...