[Federal Register Volume 80, Number 70 (Monday, April 13, 2015)]
[Notices]
[Pages 19662-19663]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-08354]


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FEDERAL RESERVE SYSTEM

[Docket No. OP-1512]


Solicitation of Statements of Interest for Membership on the 
Community Advisory Council

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice.

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SUMMARY: On January 16, 2015, the Board of Governors of the Federal 
Reserve System (Board) established the Community Advisory Council (the 
``CAC'') as an advisory committee to the Board on issues affecting 
consumers and communities. This Notice advises individuals who wish to 
serve as CAC members of the opportunity to be considered for the CAC.

DATES: Statements of Interest received on or before June 12, 2015 will 
be given consideration for selection to the Board's Council for 
appointment in 2015.

ADDRESSES: Individuals who are interested in being considered for the 
CAC may submit a Statement of Interest via the Board's Web site or via 
email. The Statement of Interest can be accessed at 
www.federalreserve.gov/secure/CAC/StatementOfInterest/. Emailed 
submissions can be sent to [email protected]. The Statement of Interest 
collects only contact information. Candidates may also choose to 
provide additional information about their qualifications in the form 
of a cover letter, resume, or other document. Any such supplemental 
materials may be emailed to [email protected].
    If electronic submission is not feasible, submissions may be mailed 
to the Board of Governors of the Federal Reserve System, Attn: 
Community Advisory Council, Mail Stop N-805, 20th Street and 
Constitution Ave. NW., Washington, DC 20551.

FOR FURTHER INFORMATION CONTACT: Andrew Dumont, Senior Community 
Development Analyst, Division of Consumer and Community Affairs, Board 
of Governors of the Federal Reserve System, 20th Street and 
Constitution Ave. NW., Washington, DC 20551, or (202) 452-2412, or [email protected]. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869.

SUPPLEMENTARY INFORMATION: The Board created the Community Advisory 
Council (CAC) as an advisory committee to the Board on issues affecting 
consumers and communities. The CAC will comprise a diverse group of 
experts and representatives of consumer and community development 
organizations and interests, including from such fields as affordable 
housing, community and economic development, small business, and asset 
and wealth building. CAC members will meet semiannually with the 
members of the Board in Washington, DC to provide a range of 
perspectives on the economic circumstances and financial services needs 
of consumers and communities, with a particular focus on the concerns 
of low- and moderate-income consumers and communities. The CAC will 
complement two of the Board's other advisory councils--the Community 
Depository Institutions Advisory Council (CDIAC) and the Federal 
Advisory Council (FAC)--whose members represent depository 
institutions. The CAC will serve as a mechanism to gather feedback and 
perspectives on a wide range of policy matters and emerging issues of 
interest to the Board of Governors and aligns with the Federal 
Reserve's mission and current responsibilities. These responsibilities 
include, but are not limited to, banking supervision and regulatory 
compliance (including the enforcement of consumer protection laws), 
systemic risk oversight and monetary policy decision-making, and, in 
conjunction with the Office of the Comptroller of the Currency (OCC) 
and Federal Deposit Insurance Corporation (FDIC), responsibility for 
implementation of the Community Reinvestment Act (CRA).
    This Notice advises individuals of the opportunity to be considered 
for appointment to the CAC. To assist with the selection of CAC 
members, the Board will consider the information submitted by the 
candidate along with other publicly available information that it 
independently obtains.

Council Size and Terms

    In the fall of 2015, the Board plans to announce the appointment of 
fifteen members to the CAC. The initial CAC members will be assigned 
one-, two-, or three-year staggered terms to provide the CAC with 
continuity. Members chosen in the fall of 2016 will be appointed to 
three-year terms that will begin on January 1, 2017. If a member 
vacates the CAC before the end of the three-year term, a replacement 
member will be appointed to fill the unexpired term.

Statement of Interest

    Statements of Interest for the CAC collects the following contact 
information about the candidate:
     Full name;
     Organizational affiliation;
     Title;
     Address;
     Phone number; and
     Email address.
    At their option, candidates may also provide additional information 
about their qualifications in the form of a cover letter, resume, or 
other document.

Qualifications

    The Board is interested in candidates with knowledge of fields such 
as affordable housing, community and economic development, small 
business, and asset and wealth building, with a particular focus on the 
concerns of low- and moderate-income consumers and communities. 
Candidates do not have to be experts on all topics related to consumer 
financial services or community development, but they should possess 
some basic knowledge of these areas and related issues. In appointing 
members to the CAC, the Board will consider a number of factors, 
including diversity in terms of subject

[[Page 19663]]

matter expertise, geographic representation, and the representation of 
women and minority groups.
    CAC members must be willing and able to make the necessary time 
commitment to participate in organizational conference calls and 
prepare for and attend meetings two times a year (usually for two 
days). The meetings will be held at the Board's offices in Washington, 
DC The Board will provide a nominal honorarium and will reimburse CAC 
members only for their actual travel expenses subject to Board policy.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of the Division of Consumer and 
Community Affairs under delegated authority, April 7, 2015.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2015-08354 Filed 4-10-15; 8:45 am]
 BILLING CODE 6210-01-P