[Federal Register Volume 82, Number 35 (Thursday, February 23, 2017)]
[Notices]
[Pages 11438-11439]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-03492]


-----------------------------------------------------------------------

BUREAU OF CONSUMER FINANCIAL PROTECTION


Establishment of Consumer Advisory Board

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, has established the Consumer Advisory Board 
(``the Board'') as required by statute. The Board will ``advise and 
consult with the Bureau in the exercise of its functions under the 
Federal consumer financial laws'' and ``provide information on emerging 
practices in the consumer financial products or services industry, 
including regional trends, concerns, and other relevant information,'' 
as outlined in section 1014(a) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act.

FOR FURTHER INFORMATION CONTACT: Delicia Hand, Staff Director, Advisory 
Board and Councils Office, External Affairs, Consumer Financial 
Protection Bureau, 1275 First Street NE., Washington, DC 20002; 
Telephone: (202) 435-9348; email: [email protected].

SUPPLEMENTARY INFORMATION: In accordance with the provisions of the 
Federal Advisory Committee Act (``FACA'') (5 U.S.C. App.), the Consumer 
Financial Protection Bureau hereby gives notice of re-establishment of 
the Consumer Advisory Board, effective immediately. In December of 
2015, language included in the 2016 Omnibus spending bill amended the 
Consumer Financial Protection Act to clarify the applicability of FACA 
to the Bureau. The Board is a continuing committee being re-established 
for the purposes of compliance with FACA and applicable statutes.
    The Board is being established concurrently with the publication of 
this notice by filing a charter with the Director of the Bureau and 
with the Committee Management Secretariat of the General Services 
Administration, and furnishing the charter to the Library of Congress 
and the Committee on Banking, Housing, and Urban Affairs of

[[Page 11439]]

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 Web site at www.consumerfinance.gov. This charter will 
expire two years after the filing date unless renewed by appropriate 
action.
    The Board's purpose is outlined in section 1014(a) of the Dodd-
Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank 
Act), which states that the Board shall ``advise and consult with the 
Bureau in the exercise of its functions under the Federal consumer 
financial laws'' and ``provide information on emerging practices in the 
consumer financial products or services industry, including regional 
trends, concerns, and other relevant information.''
    To carry out the Board's purpose, the scope of its activities shall 
include providing information, analysis, and recommendations to the 
Bureau. The Board will generally serve as a vehicle for market 
intelligence and expertise for the Bureau. Its objectives will include 
identifying and assessing the impact on consumers and other market 
participants of new, emerging, and changing products, practices, or 
services. The duties of the Board are solely advisory and shall extend 
only to the submission of advice and recommendations to the Bureau, 
which shall be non-binding on the Bureau. No determination of fact or 
policy will be made by the Board, and the Board will have no formal 
decision-making role and no access to confidential supervisory or other 
confidential information.
    The Board shall consist of no fewer than approximately16 members 
including at least six members appointed upon the recommendation of the 
regional Federal Reserve Bank Presidents on a rotating basis, and shall 
be chosen to ensure a fairly balanced membership. In accordance with 
the Dodd-Frank Act, ``in appointing the members of the Consumer 
Advisory 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 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.'' Equal 
opportunity practices in accordance with the Consumer Financial 
Protection Bureau (``Bureau'') policies shall be followed in all 
appointments to the Board.

    Dated: January 20, 2017.
Leandra English,
Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2017-03492 Filed 2-22-17; 8:45 am]
BILLING CODE 4810-AM-P