[Federal Register Volume 86, Number 51 (Thursday, March 18, 2021)]
[Notices]
[Pages 14733-14734]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05316]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Renewal of Consumer Advisory Board

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau), after 
consultation with the Committee Management Secretariat of the General 
Services Administration, will renew the Consumer Advisory Board (the 
committee or the CAB) effective on March 18, 2021. The CAB 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: Manny Ma[ntilde][oacute]n, Staff 
Director, Advisory Board and Councils Section, Office of Stakeholder 
Management, Consumer Education and External Affairs Division, at 202-
435-9830, or [email protected]. If you require this document in 
an alternative electronic format, please contact 
[email protected].

SUPPLEMENTARY INFORMATION: In accordance with the provisions of the 
Federal Advisory Committee Act (FACA) (5 U.S.C. App.), the Bureau 
hereby gives notice of renewal of the Consumer Advisory Board, 
effective immediately. The CAB is a continuing committee being renewed 
for the purposes of compliance with FACA and applicable statutes. This 
committee is being renewed concurrently with the publication of this 
notice by filing a charter with the Acting Director of the Bureau, the 
Committee Management Secretariat of the General Services 
Administration, the Library of Congress, the Committee on Banking, 
Housing, and Urban Affairs of 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 
website at www.consumerfinance.gov. This charter will expire two years 
after the filing date unless renewed by appropriate action.
    The CAB'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 committee 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 CAB's purpose, the scope of its activities shall 
include providing information, analysis, and recommendations to the 
Bureau. The CAB will generally serve as a vehicle for trends and themes 
in the consumer finance marketplace 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 CAB are solely advisory and shall extend only to 
its submission of advice and recommendations to the Bureau. The 
committee members will advise and consult with the Director and the 
Bureau on matters related to the committee's functions under the Dodd-
Frank Act through committee and subcommittee meeting attendance and 
participation, fact and information exchange, submission of individual

[[Page 14734]]

advice, and other preparatory and administrative work. The CAB will 
have no formal decision-making role and no access to nonpublic CFPB 
information, to include confidential supervisory or other confidential 
information. The Bureau posts meeting minutes from the public advisory 
committee meetings on its website.
    In accordance with Section 1014(b) of the Dodd-Frank Act, ``[i]-n 
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 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 committee shall consist of no fewer than approximately ten 
members serving two-year terms, 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. Equal opportunity practices in accordance with the 
Bureau's policies shall be followed in all appointments to the 
committee.

    Dated: March 10, 2021.
Jocelyn Sutton,
Deputy Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2021-05316 Filed 3-17-21; 8:45 am]
BILLING CODE 4810-AM-P