[Federal Register Volume 86, Number 51 (Thursday, March 18, 2021)]
[Notices]
[Pages 14735-14736]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05319]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Renewal of Credit Union Advisory Council

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 Credit Union Advisory Council 
(the committee or the CUAC) effective on March 18, 2021. The CUAC was 
established to consult with the Bureau in the exercise of its functions 
under the Federal consumer financial laws as they pertain to credit 
unions with total assets of $10 billion or less.

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 re-establishment of the Credit Union Advisory 
Council. The CUAC is a discretionary 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 purpose of the CUAC is to advise the Bureau in the exercise of 
its functions under the Federal consumer financial laws as they pertain 
to credit unions with total assets of $10 billion or less. The Bureau's 
supervisory process provides an opportunity for learning and insight 
into the operations of financial institutions; having no corollary for 
small depository financial institutions, the Bureau created this 
committee to facilitate a similar opportunity for credit unions to 
share insights regarding operational and technical considerations, 
credit union business practices, and the unique needs of their 
customers and community. This group also provides timely and pertinent 
information about how Bureau policies impact the credit union industry.
    The duties of the CUAC are solely advisory and shall extend only to 
its submission of advice and recommendations to the Bureau relating to 
the activities and operations of credit unions, which shall be non-
binding on the Bureau. To ensure understanding of compliance and 
regulatory challenges faced by credit unions, inclusion on the CUAC 
will be limited to credit union employees. No determination of fact or 
policy will be made by the committee,

[[Page 14736]]

and the committee 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 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 (e.g., 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 CUAC shall consist of at least eight members serving two-year 
terms. All members appointed by the Director shall serve at the 
pleasure of the Director. Equal opportunity practices in accordance 
with the Bureau's policies shall be followed in all appointments to the 
CUAC.

    Dated: March 10, 2021.
Jocelyn Sutton,
Deputy Chief of Staff, Bureau of Consumer Financial Protection.
[FR Doc. 2021-05319 Filed 3-17-21; 8:45 am]
BILLING CODE 4810-AM-P