[Federal Register Volume 84, Number 56 (Friday, March 22, 2019)]
[Notices]
[Pages 10801-10802]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-05506]
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BUREAU OF CONSUMER FINANCIAL PROTECTION
Advisory Committees Solicitation of Applications for Membership
AGENCY: Consumer Financial Protection Bureau.
ACTION: Notice.
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SUMMARY: Pursuant to the authorities given to the Director of the
Bureau of Consumer Financial Protection (Bureau) under the Wall Street
Reform and Consumer Protection Act (Dodd-Frank Act) Director Kraninger
invites the public to apply for membership for appointment to its
Consumer Advisory Board (CAB), Community Bank Advisory Council, Credit
Union Advisory Council (CUAC), and Academic Research Council (ARC),
(collectively, advisory committees). Membership of the advisory
committees includes representatives of consumers, diverse communities,
the financial services industry, academics, and economists.
Appointments to the committees are generally for two years. However,
the Director may amend the respective committee charters from time to
time during the charter terms, as the Director deems necessary to
accomplish the purpose of the committees. The Bureau expects to
announce the selection of new members in September 2019.
DATES: The application will be available on March 22, 2019 here:
https://consumer-financial-protection-bureau.forms.fm/application-to-serve-on-advisory-board-body-panel-committee-or-group. Complete
application packets received on or before May 5, 2019, will be given
consideration for membership on the committees.
ADDRESSES: If electronic submission is not feasible, the completed
application packet can be mailed to Crystal Dully, Outreach and
Engagement Associate, Bureau of Consumer Financial Protection, 1700 G
Street NW, Washington, DC 20552.
All applications for membership on the advisory committees should
be sent:
Electronically: https://consumer-financial-protection-bureau.forms.fm/application-to-serve-on-advisory-board-body-panel-committee-or-group. We strongly encourage electronic submissions.
Mail: Crystal Dully, Outreach and Engagement Associate,
Bureau of Consumer Financial Protection, 1700 G Street NW, Washington,
DC 20552. Submissions must be postmarked on or before May 5, 2019.
Hand Delivery/Courier in Lieu of Mail: Crystal Dully,
Outreach and Engagement Specialist, Bureau of Consumer Financial
Protection, 1700 G Street NW, Washington, DC 20552. Submissions must be
received on or before 5 p.m. eastern standard time on May 5, 2019.
FOR FURTHER INFORMATION CONTACT: Crystal Dully, Outreach and Engagement
Specialist, at (202) 435-9588. If you require this document in an
alternative electronic format, please contact
[email protected].
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.
Pursuant to the executive and administrative powers conferred on
the Bureau by section 1012 of the Dodd-Frank Act, the Director of the
Bureau of Consumer Financial Protection established the discretionary
committees, CBAC, CUAC, and ARC, under agency authority in accordance
with the provisions of the Federal Advisory Committee Act, as amended,
5 U.S.C., App. 2.
III. Qualifications
Pursuant to section 1014(b) of the Dodd-Frank Act, in appointing
members to 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
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 12 of the Community Bank Advisory Council
Charter, in appointing members to the committee the Director shall seek
to assemble members with diverse points of view, institution asset
sizes, and geographical backgrounds. Only 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 community banks with total
assets of more than $10 billion.
[[Page 10802]]
Pursuant to section 12 of the Credit Union Advisory Council
Charter, in appointing members to the committee the Director shall seek
to assemble members with diverse points of view, institution asset
sizes, and geographical backgrounds. Only 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.
Pursuant to section 12 of the Academic Research Council Charter, in
appointing members to the committee the Director shall seek to assemble
members who are economic experts and academics with diverse points of
view; such as experienced economists with a strong research and
publishing 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 economic analysis including
those specializing in household finance, finance, financial education,
labor economics, industrial organization, public economics, and law and
economics; and experts from related social sciences related to the
Bureau'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 random controlled trial methods; benefit cost
analysis, welfare economics and program evaluation; or marketing.
The Bureau 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 Bureau also has a special interest in establishing advisory
committees that are 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 committees.
A complete application packet must include:
1. A recommendation letter from a third party describing the
applicant's interests and qualifications to serve on the committee;
2. A complete r[eacute]sum[eacute] or curriculum vitae for the
applicant; and
3. A one-page cover letter, which summarizes the applicant's
expertise and provides reason(s) why he or she would like to join the
committee.
4. A complete application. https://consumer-financial-protection-bureau.forms.fm/application-to-serve-on-advisory-board-body-panel-committee-or-group.
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 does not accept applications from federally registered
lobbyists or current elected officials for a position on the advisory
committees.
Only complete applications will be given consideration for
membership on the advisory committees.
Dated: March 18, 2019.
Kirsten Sutton,
Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2019-05506 Filed 3-21-19; 8:45 am]
BILLING CODE 4810-AM-P