[Federal Register Volume 79, Number 10 (Wednesday, January 15, 2014)]
[Notices]
[Pages 2636-2638]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-00635]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
[Docket No. CFPB-2014-0001]
Consumer Advisory Board and Councils Solicitation of Applications
for Membership
AGENCY: Bureau of Consumer Financial Protection.
ACTION: Notice.
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SUMMARY: Pursuant to the authorities given to the Director of the
Consumer Financial Protection Bureau (``Bureau'') under the Wall Street
Reform and Consumer Protection Act (``Dodd-Frank Act'') Director
Richard Cordray invites the public to apply for membership for
appointment to its Consumer Advisory Board (the ``Board''), Community
Bank Advisory Council, and Credit Union Advisory Council. Membership of
the Board and Advisory Councils includes representatives of consumers,
communities, the financial services industry and academics.
Appointments to the Advisory Board are typically for
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three years and appointments to the Advisory Councils are typically for
two years. However, the Director may amend the respective Board and
Council charters from time to time during the charter terms as the
Director deems necessary to accomplish the purpose of the Board and
Councils. The Bureau expects to announce the selection of new members
in August 2014.
DATES: Complete application packets received on or before February 28,
2014 will be given consideration for membership on the Board and
Councils.
ADDRESSES: Complete application packets must include a
r[eacute]sum[eacute] for each applicant, a completed application, and a
letter of recommendation from a third party. The appropriate forms can
be accessed at: consumerfinance.gov.
If electronic submission is not feasible, the completed application
packet can be mailed to Christopher Banks, Consumer Financial
Protection Bureau, 1700 G Street NW., 6108 E-A, Washington, DC 20552.
All applications for membership on the Board and Advisory Council
should be sent:
Electronically: [email protected]. We
strongly encourage electronic submissions.
Mail: Christopher Banks, Consumer Financial Protection
Bureau, 1700 G Street NW., 6111 E-B, Washington, DC 20552. Submissions
must be postmarked on or before 5:00 p.m. eastern standard time on
February 28, 2014.
Hand Delivery/Courier in Lieu of Mail: Christopher Banks,
Consumer Financial Protection Bureau, 1700 G Street NW., 6111 E-B,
Washington, DC 20552. Submissions must be received on or before 5:00
p.m. eastern standard time on February 28, 2014.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to Christopher Banks, Consumer Financial Protection
Bureau, (202) 754-0325.
SUPPLEMENTARY INFORMATION:
I. Background
The Bureau is charged with regulating ``the offering and provision
of consumer financial products or services under the Federal consumer
financial laws,'' so as to ensure that ``all consumers have access to
markets for consumer financial products and services and that markets
for consumer financial products and services are fair, transparent, and
competitive.'' Pursuant to Section 1021(c) of the Wall Street Reform
and Consumer Protection Act, Public Law 111-203 (``Dodd-Frank Act''),
the Bureau's primary functions are:
1. Conducting financial education programs;
2. Collecting, investigating, and responding to consumer
complaints;
3. Collecting, researching, monitoring, and publishing information
relevant to the function of markets for consumer financial products and
services to identify risks to consumers and the proper functioning of
such markets;
4. Supervising persons covered under the Dodd-Frank Act 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.
As described in more detail below, Section 1014 of the Dodd-Frank
Act calls for the Director of the Bureau to establish a Consumer
Advisory Board to advise and consult with the Bureau regarding its
functions, and to provide information on emerging trends and practices
in the consumer financial markets.
III. Qualifications
Pursuant to Section 1014(b) of the Dodd-Frank Act, in appointing
members to the Board, ``the Director shall seek to assemble experts in
consumer protection, financial services, community development, fair
lending and civil rights, and consumer financial products or services
and representatives of depository institutions that primarily serve
underserved communities, and representatives of communities that have
been significantly impacted by higher-priced mortgage loans, and seek
representation of the interests of covered persons and consumers,
without regard to party affiliation.'' The determinants of
``expertise'' shall depend, in part, on the constituency, interests, or
industry sector the nominee seeks to represent, and where appropriate,
shall include significant experience as a direct service provider to
consumers.
Pursuant to Section 5 of the Community Bank Advisory Council
Charter, in appointing members to the Advisory Council the Director
shall seek to assemble experts in consumer protection, financial
services, community development, fair lending and civil rights, and
consumer financial products or services and representatives of
community banks that primarily serve underserved communities, and
representatives of communities that have been significantly impacted by
higher-priced mortgage loans, and shall strive to have diversity in
terms of points of view. Only current bank or thrift employees (CEOs,
compliance officers, government relations officials, etc.) will be
considered for membership. 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 credit unions with total
assets of more than $10 billion.
Pursuant to section 5 of the Credit Union Advisory Council Charter,
in appointing members to the Advisory Council the Director shall seek
to assemble experts in consumer protection, financial services,
community development, fair lending and civil rights, and consumer
financial products or services and representatives of credit unions
that primarily serve underserved communities, and representatives of
communities that have been significantly impacted by higher-priced
mortgage loans, and shall strive to have diversity in terms of points
of view. Only current credit union employees (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 Bureau has a special interest in ensuring that women, minority
groups, and individuals with disabilities are adequately represented on
the Board and Councils, and therefore, encourages applications from
qualified candidates from these groups. The Bureau also has a special
interest in establishing a Board 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
Dodd-Frank Act, including service members, older Americans, students,
and traditionally underserved consumers and communities.
IV. Application Procedures
Any interested person may apply for membership on the Board or
Advisory Council.
A complete application packet must include:
1. A recommendation letter from a third party describing the
applicant's
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interests and qualifications to serve on the Board or Council;
2. A complete r[eacute]sum[eacute] or curriculum vitae for the
applicant; and
3. A complete application.
To evaluate potential sources of conflicts of interest, the Bureau
will ask potential candidates to provide information related to
financial holdings and/or professional affiliations, and to allow the
Bureau to perform a background check. The Bureau will not review
applications and will not answer questions from internal or external
parties regarding applications until the application period has closed.
The Bureau will not entertain applications of federally registered
lobbyists and individuals who have been convicted of a felony for a
position on the Board and Councils.
Only complete applications will be given consideration for review
of membership on the Board and Councils.
Dated: January 9, 2014.
Christopher D'Angelo,
Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2014-00635 Filed 1-14-14; 8:45 am]
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