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Volume 25 - Number 9

April 28, 2014

Congressmen Push Mandatory Small Business Advisory Panel

Reps. Robert Pittenger, R-NC, and Denny Heck, D-WA, recently introduced H.R. 4383, the Bureau of Consumer Financial Protection Small Business Advisory Board Act, which would require the CFPB to establish a small business advisory board. “Consumers, banks, and credit unions already provide valuable insight on what the CFPB proposes, but the smaller operators in finance have a tougher time being heard,” said Heck. “As a small business owner myself, I know local financial service providers in Washington state can partner with the CFPB to better protect consumers and give input on how CFPB actions affect customers and operations.” The Pittenger and Heck proposal would institute a board made up of at least 12 members who are “representatives of small business...

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