Regulation

CFPB seeks applicants for consumer, banking advisory councils

cfpbThe CFPB is currently accepting applications for seats on several of its advisory boards for credit unions, community banks and consumers—the application period will close on Feb. 28.

The Consumer Advisory Board—which currently has Laura Castro de Cortes of Nebraska-based Centris Federal Credit Union and Bill Bynum of Mississippi-based Hope Federal Credit Union as members—was established by the Dodd-Frank Act to counsel the CFPB on emerging trends and practices in the consumer financial industry.

For the CAB the CFPB is seeking experts in specific policy areas, including consumer protection, financial services, fair lending and community development, and representatives from financial institutions that primarily serve underserved communities.

The Credit Union Advisory Council was created to provide an industry perspective on consumer financial protection issues. Membership on the council is limited to employees of credit unions that have $10 billion in assets or less and are not affiliated with an institution larger than the threshold.

Membership on the Community Bank Advisory Council is limited to employees of banks or thrifts with less than $10 billion in assets that are also not affiliated with institutions with assets above the $10 billion threshold.

Interested candidates must include a recommendation letter describing the applicant’s interests and qualifications, a resume and complete application.

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