Notice2023-10541
Advisory Committees Solicitation of Applications for Membership
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
June 1, 2023
Issuing agencies
Consumer Financial Protection Bureau
Abstract
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Consumer Financial Protection Act) section 1014 requires the Director of the Consumer Financial Protection Bureau (CFPB) to establish a Consumer Advisory Board to advise and consult with the Bureau in the exercise of its functions under the Federal consumer financial laws, and to provide information on emerging practices in the consumer financial products or services industry, including regional trends, concerns, and other relevant information. Pursuant to the executive and administrative powers conferred on the CFPB by section 1012 of the Consumer Financial Protection Act, the Director of the Consumer Financial Protection Bureau established the discretionary committees, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council under agency authority in accordance with the provisions of the Federal Advisory Committee Act, as amended. This notice advises individuals who wish to serve as a member of the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, or Academic Research Council, of the opportunity to be considered for those advisory committees. The CFPB expects to announce the selection of new members later this year.
Full Text
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<title>Federal Register, Volume 88 Issue 105 (Thursday, June 1, 2023)</title>
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[Federal Register Volume 88, Number 105 (Thursday, June 1, 2023)]
[Notices]
[Pages 35844-35845]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-10541]
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CONSUMER FINANCIAL PROTECTION BUREAU
Advisory Committees Solicitation of Applications for Membership
AGENCY: Consumer Financial Protection Bureau.
ACTION: Notice.
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SUMMARY: The Dodd-Frank Wall Street Reform and Consumer Protection Act
(Consumer Financial Protection Act) section 1014 requires the Director
of the Consumer Financial Protection Bureau (CFPB) to establish a
Consumer Advisory Board to advise and consult with the Bureau in the
exercise of its functions under the Federal consumer financial laws,
and to provide information on emerging practices in the consumer
financial products or services industry, including regional trends,
concerns, and other relevant information. Pursuant to the executive and
administrative powers conferred on the CFPB by section 1012 of the
Consumer Financial Protection Act, the Director of the Consumer
Financial Protection Bureau established the discretionary committees,
Community Bank Advisory Council, Credit Union Advisory Council, and
Academic Research Council under agency authority in accordance with the
provisions of the Federal Advisory Committee Act, as amended. This
notice advises individuals who wish to serve as a member of the
Consumer Advisory Board, Community Bank Advisory Council, Credit Union
Advisory Council, or Academic Research Council, of the opportunity to
be considered for those advisory committees. The CFPB expects to
announce the selection of new members later this year.
DATES: Completed applications received between 12:00 a.m. EDT on
Monday, July 3, 2023, and 11:59 p.m. EDT on Sunday, July 16, 2023, will
be considered for membership on the committees.
ADDRESSES: Individuals who meet the qualifications for membership and
wish to be considered for the CFPB's advisory committees, may apply and
submit required documents via <a href="https://acam.consumerfinance.gov/">https://acam.consumerfinance.gov/</a>. The
qualifications for membership and the information required for
consideration is described below.
If an applicant requires a reasonable accommodation to complete the
application, please contact Kimberley Medrano, Senior Advisor, at
<a href="/cdn-cgi/l/email-protection#480b0e180a170a27293a2c29262c0b273d262b21240938383b082b2e382a662f273e"><span class="__cf_email__" data-cfemail="aae9ecfae8f5e8c5cbd8cecbc4cee9c5dfc4c9c3c6ebdadad9eac9ccdac884cdc5dc">[email protected]</span></a>.
If electronic submission is not feasible, submissions may be mailed
to the Consumer Financial Protection Bureau, ATTN: Kimberley Medrano,
1700 G Street NW, Washington, DC 20552. Submissions by mail must be
postmarked on or before Sunday, July 16, 2023. Because paper mail in
the Washington, DC area and at the Bureau is subject to delay,
candidates are encouraged to submit applications electronically.
FOR FURTHER INFORMATION CONTACT: Kimberley Medrano, Senior Advisor,
Advisory Board and Councils, 202-590-6736, or
<a href="/cdn-cgi/l/email-protection#c4878294869b86aba5b6a0a5aaa087abb1aaa7ada885b4b4b784a7a2b4a6eaa3abb2"><span class="__cf_email__" data-cfemail="15565345574a577a746771747b71567a607b767c795465656655767365773b727a63">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Background
Per section 1021(c) of the Consumer Financial Protection Act, the
primary functions of the Bureau are--
1. Conducting financial education programs;
2. Collecting, investigating, and responding to consumer
complaints;
3. Collecting, researching, monitoring, and publishing information
relevant to the functioning of markets for consumer financial products
and services to identify risks to consumers and the proper functioning
of such markets;
[[Page 35845]]
4. Subjection to section 1024 through 1026, supervising covered
persons for compliance with Federal consumer financial law, and taking
appropriate enforcement action to address violations of Federal
consumer financial law;
5. Issuing rules, orders, and guidance implementing Federal
consumer financial law; and
6. Performing such support activities as may be needed or useful to
facilitate the other functions of the Bureau.
The Consumer Advisory Board is a crowdsourced group of experts on
consumer protection, consumer financial products or services, community
development, fair lending, civil rights, underserved communities, and
communities that have been significantly impacted by higher priced
mortgage loans. They are charged with identifying and assessing the
impact of emerging products, practices, or services on consumers and
other market participants. The Community Bank Advisory Council advises
us on regulating consumer financial products or services, offering the
unique perspectives of community banks. They share information,
analysis, and recommendations to better inform our policy development,
rulemaking, and engagement work. The Credit Union Advisory Council
advises us on regulating consumer financial products or services,
offering the unique perspectives of credit unions. They share
information, analysis, and recommendations to better inform our policy
development, rulemaking, and engagement work. The Academic Research
Council advises us on our strategic research planning process and
research agenda, including views on the research that the Bureau should
conduct relating to consumer financial products or services, consumer
behavior, cost-benefit analysis, or other topics to enable the agency
to further its statutory purposes and objectives. Members also provide
the Office of Research with technical advice and feedback on research
methodologies, data collection strategies, and methods of analysis,
including methodologies and strategies for quantifying the costs and
benefits of regulatory actions.
II. Qualifications
<bullet> Consumer Advisory Board: Membership for the committee will
be drawn from a pool of candidates recommended by the regional Federal
Reserve Bank Presidents. Candidates must have experience in consumer
protection, financial services, community development, fair lending and
civil rights, or consumer financial products or services, or represent
depository institutions that primarily serve underserved communities,
communities that have been significantly impacted by higher-priced
mortgage loans, or the interests of covered persons and consumers,
without regard to party affiliation in accordance with section 1014(b)
of the Consumer Financial Protection Act.
<bullet> Community Bank Advisory Council: Per section 12 of the
committee's charter, membership is limited to employees of banks and
thrifts with total assets of $10 billion or less that are not
affiliates of depository institutions or community banks with total
assets of more than $10 billion. Only bank or thrift employees (CEOs,
compliance officers, government relations officials, etc.) will be
considered for membership.
<bullet> Credit Union Advisory Council: Per section 12 of the
committee's charter, 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. Only credit union employees (CEOs, compliance
officers, government relations officials, etc.) will be considered for
membership.
<bullet> Academic Research Council: Per section 12 of the
committee's charter, members are social science experts and academics
with diverse points of view, such as experienced economists with a
strong research and publishing or practitioner background, and a record
of involvement in research and public policy, including public or
academic service. Additionally, members should be prominent experts who
are recognized for their professional achievements and rigorous
empirical and theoretical analysis including those specializing in
household finance, finance, financial education, labor economics,
industrial organization, public economics, social work, psychology, and
law and economics; and experts from related social sciences related to
the CFPB's mission. In particular, the Director will seek to identify
academics with strong methodological and technical expertise in
structural or reduced form econometrics, modeling of consumer decision-
making, survey and randomized controlled trial methods, cost-benefit
analysis, welfare economics and program evaluation, or marketing.
The CFPB has a special interest in ensuring that the perspectives
of women and men, all racial and ethnic groups, and individuals with
disabilities are adequately represented on the advisory committees, and
therefore, encourages applications from qualified candidates from these
groups. The CFPB also has a special interest in establishing a
committee that is represented by a diversity of viewpoints and
constituencies, and therefore encourages applications from qualified
candidates who:
(1) Represent the United States' geographic diversity; and
(2) Represent the interests of special populations identified in
the Consumer Financial Protection Act, including service members, older
Americans, students, and traditionally underserved consumers and
communities.
The CFPB does not accept applications from non-US citizens,
federally registered lobbyists, convicted felons or current elected
officials for a position on the advisory committees. Selection of
members shall not constitute an endorsement by the CFPB of the member's
organization or other affiliation.
III. Application
Only complete applications will be given consideration for
membership on the advisory committees. Candidates must visit the
Advisory Committee Application Management system (<a href="https://acam.consumerfinance.gov/">https://acam.consumerfinance.gov/</a>) to answer the questionnaire and submit the
required documents by the deadline, in order to be considered for a
position on the advisory committees.
A complete application package must include the questionnaire, a
cover letter describing your primary qualifications, a resume/CV with
relevant positions and responsibilities, and a third-party letter of
recommendation. All documents including the questionnaire, may be
submitted via <a href="https://acam.consumerfinance.gov/">https://acam.consumerfinance.gov/</a>. Letters of
recommendation may be addressed to Director Rohit Chopra. Questions
regarding the Advisory Committee Application Management system or this
solicitation may be directed to <a href="/cdn-cgi/l/email-protection#581b1e081a071a37392a3c39363c1b372d363b31341928282b183b3e283a763f372e"><span class="__cf_email__" data-cfemail="baf9fceaf8e5f8d5dbc8dedbd4def9d5cfd4d9d3d6fbcacac9fad9dccad894ddd5cc">[email protected]</span></a>.
Candidates will be asked to participate in an interview, and
provide information related to financial holdings and/or professional
affiliations, in addition to passing a background check.
Emily Ross,
Acting Deputy Chief of Staff, Consumer Financial Protection Bureau.
[FR Doc. 2023-10541 Filed 5-31-23; 8:45 am]
BILLING CODE 4810-AM-P
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