CFPB Seeking Members for Advisory Boards

The Consumer Financial Protection Bureau announced that it is seeking applications for positions on its advisory groups, the Consumer Advisory Board (CAB), the Credit Union Advisory Council (CUAC), and the Community Bank Advisory Council (CBAC), which serve as key resources to the Bureau by providing valuable input and on-the-ground perspectives. “The members of our advisory board and councils are tremendous assets for the Bureau,” said CFPB Director Richard Cordray. “I am grateful for the service of our current members, and look forward to working with our future members.” The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, required that the CAB be established to advise and consult with the Bureau’s director on a variety of consumer financial issues. The CAB meets three times per year. The CBAC and CUAC were created to ensure that the Bureau receives feedback from community banks and credit unions with asset sizes below $10 billion that are not under the CFPB’s supervision, but may be affected by Bureau regulations. The CBAC and CUAC meet four times per year. Applicants should have a background in consumer protection, financial services, fair lending and civil rights, consumer financial products or services, or community development. Federally registered lobbyists will not be considered.