[Federal Register Volume 88, Number 105 (Thursday, June 1, 2023)]
[Notices]
[Pages 35844-35845]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-10541]


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CONSUMER FINANCIAL PROTECTION BUREAU


Advisory Committees Solicitation of Applications for Membership

AGENCY: Consumer Financial Protection Bureau.

ACTION: Notice.

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SUMMARY: The Dodd-Frank Wall Street Reform and Consumer Protection Act 
(Consumer Financial Protection Act) section 1014 requires the Director 
of the Consumer Financial Protection Bureau (CFPB) to establish a 
Consumer Advisory Board to advise and consult with the Bureau in the 
exercise of its functions under the Federal consumer financial laws, 
and to provide information on emerging practices in the consumer 
financial products or services industry, including regional trends, 
concerns, and other relevant information. Pursuant to the executive and 
administrative powers conferred on the CFPB by section 1012 of the 
Consumer Financial Protection Act, the Director of the Consumer 
Financial Protection Bureau established the discretionary committees, 
Community Bank Advisory Council, Credit Union Advisory Council, and 
Academic Research Council under agency authority in accordance with the 
provisions of the Federal Advisory Committee Act, as amended. This 
notice advises individuals who wish to serve as a member of the 
Consumer Advisory Board, Community Bank Advisory Council, Credit Union 
Advisory Council, or Academic Research Council, of the opportunity to 
be considered for those advisory committees. The CFPB expects to 
announce the selection of new members later this year.

DATES: Completed applications received between 12:00 a.m. EDT on 
Monday, July 3, 2023, and 11:59 p.m. EDT on Sunday, July 16, 2023, will 
be considered for membership on the committees.

ADDRESSES: Individuals who meet the qualifications for membership and 
wish to be considered for the CFPB's advisory committees, may apply and 
submit required documents via https://acam.consumerfinance.gov/. The 
qualifications for membership and the information required for 
consideration is described below.
    If an applicant requires a reasonable accommodation to complete the 
application, please contact Kimberley Medrano, Senior Advisor, at 
[email protected].
    If electronic submission is not feasible, submissions may be mailed 
to the Consumer Financial Protection Bureau, ATTN: Kimberley Medrano, 
1700 G Street NW, Washington, DC 20552. Submissions by mail must be 
postmarked on or before Sunday, July 16, 2023. Because paper mail in 
the Washington, DC area and at the Bureau is subject to delay, 
candidates are encouraged to submit applications electronically.

FOR FURTHER INFORMATION CONTACT: Kimberley Medrano, Senior Advisor, 
Advisory Board and Councils, 202-590-6736, or 
[email protected].

SUPPLEMENTARY INFORMATION: 

I. Background

    Per section 1021(c) of the Consumer Financial Protection Act, the 
primary functions of the Bureau are--
    1. Conducting financial education programs;
    2. Collecting, investigating, and responding to consumer 
complaints;
    3. Collecting, researching, monitoring, and publishing information 
relevant to the functioning of markets for consumer financial products 
and services to identify risks to consumers and the proper functioning 
of such markets;

[[Page 35845]]

    4. Subjection to section 1024 through 1026, supervising covered 
persons 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.
    The Consumer Advisory Board is a crowdsourced group of experts on 
consumer protection, consumer financial products or services, community 
development, fair lending, civil rights, underserved communities, and 
communities that have been significantly impacted by higher priced 
mortgage loans. They are charged with identifying and assessing the 
impact of emerging products, practices, or services on consumers and 
other market participants. The Community Bank Advisory Council advises 
us on regulating consumer financial products or services, offering the 
unique perspectives of community banks. They share information, 
analysis, and recommendations to better inform our policy development, 
rulemaking, and engagement work. The Credit Union Advisory Council 
advises us on regulating consumer financial products or services, 
offering the unique perspectives of credit unions. They share 
information, analysis, and recommendations to better inform our policy 
development, rulemaking, and engagement work. The Academic Research 
Council advises us on our strategic research planning process and 
research agenda, including views on the research that the Bureau should 
conduct relating to consumer financial products or services, consumer 
behavior, cost-benefit analysis, or other topics to enable the agency 
to further its statutory purposes and objectives. Members also provide 
the Office of Research with technical advice and feedback on research 
methodologies, data collection strategies, and methods of analysis, 
including methodologies and strategies for quantifying the costs and 
benefits of regulatory actions.

II. Qualifications

     Consumer Advisory Board: Membership for the committee will 
be drawn from a pool of candidates recommended by the regional Federal 
Reserve Bank Presidents. Candidates must have experience in consumer 
protection, financial services, community development, fair lending and 
civil rights, or consumer financial products or services, or represent 
depository institutions that primarily serve underserved communities, 
communities that have been significantly impacted by higher-priced 
mortgage loans, or the interests of covered persons and consumers, 
without regard to party affiliation in accordance with section 1014(b) 
of the Consumer Financial Protection Act.
     Community Bank Advisory Council: Per section 12 of the 
committee's charter, 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. Only bank or thrift employees (CEOs, 
compliance officers, government relations officials, etc.) will be 
considered for membership.
     Credit Union Advisory Council: Per section 12 of the 
committee's charter, 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. Only credit union employees (CEOs, compliance 
officers, government relations officials, etc.) will be considered for 
membership.
     Academic Research Council: Per section 12 of the 
committee's charter, members are social science experts and academics 
with diverse points of view, such as experienced economists with a 
strong research and publishing or practitioner 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 
empirical and theoretical analysis including those specializing in 
household finance, finance, financial education, labor economics, 
industrial organization, public economics, social work, psychology, and 
law and economics; and experts from related social sciences related to 
the CFPB'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 randomized controlled trial methods, cost-benefit 
analysis, welfare economics and program evaluation, or marketing.
    The CFPB 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 CFPB also has a special interest in establishing a 
committee that is 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 Consumer Financial Protection Act, including service members, older 
Americans, students, and traditionally underserved consumers and 
communities.
    The CFPB does not accept applications from non-US citizens, 
federally registered lobbyists, convicted felons or current elected 
officials for a position on the advisory committees. Selection of 
members shall not constitute an endorsement by the CFPB of the member's 
organization or other affiliation.

III. Application

    Only complete applications will be given consideration for 
membership on the advisory committees. Candidates must visit the 
Advisory Committee Application Management system (https://acam.consumerfinance.gov/) to answer the questionnaire and submit the 
required documents by the deadline, in order to be considered for a 
position on the advisory committees.
    A complete application package must include the questionnaire, a 
cover letter describing your primary qualifications, a resume/CV with 
relevant positions and responsibilities, and a third-party letter of 
recommendation. All documents including the questionnaire, may be 
submitted via https://acam.consumerfinance.gov/. Letters of 
recommendation may be addressed to Director Rohit Chopra. Questions 
regarding the Advisory Committee Application Management system or this 
solicitation may be directed to [email protected].
    Candidates will be asked to participate in an interview, and 
provide information related to financial holdings and/or professional 
affiliations, in addition to passing a background check.

Emily Ross,
Acting Deputy Chief of Staff, Consumer Financial Protection Bureau.
[FR Doc. 2023-10541 Filed 5-31-23; 8:45 am]
BILLING CODE 4810-AM-P