Consumer bureau still taking applications for consumer, bank/CU advisory panels

Qualified persons interested in serving on one of three advisory bodies for the Consumer Financial Protection Bureau (CFPB) can still apply if they do it by April 30, according to the CFPB’s updated online applications page.

The bureau is looking to fill posts on its Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC) and Credit Union Advisory Council (CUAC). In a blog post, the bureau says it has 10 advisory board, 15 bank council and 12 credit union council seats becoming vacant this fall. The April 30 application deadline is one week later than the original (which was April 23, as published earlier in the Federal Register).

As reported here previously, members on the advisory bodies are selected by the CFPB director and include representatives of consumers, communities, the financial services industry and academics. The board can include members from depository institutions generally; the community bank and credit union councils can only take current institution employees, and institutions represented on the two councils must be $10 billion in assets or smaller and not be affiliates of larger institutions.

All three bodies are to include 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 communities significantly affected by higher-priced mortgage loans, among other factors.

The bureau says appointments are typically for three years on CAB and two years on the CBAC and CUAC.

CFPB Online Application Page for Advisory Board, Council Seats

CFPB Blog Post Calling for Applications

March 16 Federal Register notice