Notice2023-05184
Renewal of Credit Union Advisory Council
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 15, 2023
Issuing agencies
Consumer Financial Protection Bureau
Abstract
The Consumer Financial Protection Bureau (Bureau), after consultation with the Committee Management Secretariat of the General Services Administration, will renew the Credit Union Advisory Council (the committee or the CUAC) effective on March 15, 2023. The CUAC was established to consult with the Bureau in the exercise of its functions under the Federal consumer financial laws as they pertain to credit unions with total assets of $10 billion or less.
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 50 (Wednesday, March 15, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 50 (Wednesday, March 15, 2023)]
[Notices]
[Pages 15992-15993]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-05184]
-----------------------------------------------------------------------
BUREAU OF CONSUMER FINANCIAL PROTECTION
Renewal of Credit Union Advisory Council
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Consumer Financial Protection Bureau (Bureau), after
consultation with the Committee Management Secretariat of the General
Services Administration, will renew the Credit Union Advisory Council
(the committee or the CUAC) effective on March 15, 2023. The CUAC was
established to consult with the Bureau in the exercise of its functions
under the Federal consumer financial laws as they pertain to credit
unions with total assets of $10 billion or less.
FOR FURTHER INFORMATION CONTACT: Kimberley Medrano, Acting Staff
Director, Advisory Board and Councils Section, Office of Stakeholder
Management, Consumer Education and External Affairs Division, at 202-
590-6736, or <a href="/cdn-cgi/l/email-protection#266d4f4b4443544a435f086b434254474849664540564408414950"><span class="__cf_email__" data-cfemail="99d2f0f4fbfcebf5fce0b7d4fcfdebf8f7f6d9faffe9fbb7fef6ef">[email protected]</span></a>. If you require this document
in an alternative electronic format, please contact
<a href="/cdn-cgi/l/email-protection#61222731233e2002020412120803080d08151821020711034f060e17"><span class="__cf_email__" data-cfemail="f2b1b4a2b0adb391919781819b909b9e9b868bb291948290dc959d84">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: In accordance with the provisions of the
Federal Advisory Committee Act (FACA) (5 U.S.C. 10), the Bureau hereby
gives notice of re-establishment of the Credit Union Advisory Council,
effective immediately. The CUAC is a discretionary committee being
renewed for the purposes of compliance with FACA and applicable
statutes. This committee is being renewed concurrently with the
publication of this notice by filing a charter with the Director of the
Bureau, the Committee Management Secretariat of the General Services
Administration, the Library of Congress, the Committee on Banking,
Housing, and Urban Affairs of the United States Senate, and the
Committee on Financial Services of the United States House of
Representatives. The charter will also be posted on the Bureau's
website at <a href="http://www.consumerfinance.gov">www.consumerfinance.gov</a>. This charter will expire two years
after the filing date unless renewed by appropriate action.
The purpose of the CUAC is to advise the Bureau in the exercise of
its functions under the Federal consumer financial laws as they pertain
to credit unions with total assets of $10 billion or less. The Bureau's
supervisory process provides an opportunity for learning and insight
into the operations of financial institutions; having no corollary for
small depository financial institutions, the Bureau created this
committee to facilitate a similar opportunity for credit unions to
share insights regarding operational and technical considerations,
credit union business practices, and the unique needs of their
customers and community. This group also provides timely and pertinent
information about how Bureau policies impact the credit union industry.
The duties of the CUAC are solely advisory and shall extend only to
its submission of advice and
[[Page 15993]]
recommendations to the Bureau relating to the activities and operations
of credit unions, which shall be non-binding on the Bureau. Statements
made by members of the committee shall not constitute official agency
policy or guidance. To ensure understanding of compliance and
regulatory challenges faced by credit unions, inclusion on the CUAC
will be limited to credit union employees. No determination of fact or
policy will be made by the committee. The CUAC will have no formal
decision-making role and no access to confidential supervisory or other
confidential information.
In appointing members to the committee, the Director shall seek to
assemble members with diverse points of view, institution asset sizes,
and geographical backgrounds. Only credit union employees (e.g., CEOs,
compliance officers, government relations officials, etc.) will be
considered for membership. Membership is limited to employees of credit
unions with total assets of $10 billion or less that are not affiliates
of depository institutions or credit unions with total assets of more
than $10 billion.
The CUAC shall consist of at least eight members. All members
appointed by the Director shall serve at the pleasure of the Director.
The committee will be composed exclusively of representatives of the
credit union industry as described above. The CUAC will be composed of
Representative members. Equal opportunity practices in accordance with
the Bureau's policies shall be followed in all appointments to the
CUAC.
Emily Ross,
Acting Deputy Chief of Staff, Consumer Financial Protection Bureau.
[FR Doc. 2023-05184 Filed 3-14-23; 8:45 am]
BILLING CODE 4810-AM-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on March 15, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.