[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

[[Page 2637]]

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]
BILLING CODE 4810-AM-P