CFPB seeks new Credit Union Advisory Council members

The Consumer Financial Protection Bureau (CFPB) announced January 15 that it is seeking applications for positions on its advisory groups, including the Credit Union Advisory Council (CUAC).

“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.”

Other advisory boards for which the CFPB is seeking members include the Consumer Advisory Board (CAB) and the Community Bank Advisory Council (CBAC).

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.

More information about application guidelines and the responsibilities of advisory group members is available in the Federal Register. Applications will be accepted until February 28, 2014.