Meetings of three advisory councils, with their newly appointed memberships, of the federal consumer financial protection agency are scheduled for Sept. 27, according to filings Tuesday in the Federal Register.
The Bureau of Consumer Financial Protection (BCFP, formerly known as the CFPB) has scheduled the three meetings to occur simultaneously, on Sept. 27 from 9:30 a.m. to 4 p.m. ET.
Similarly, all three of the advisory councils (the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), and the Credit Union Advisory Council (CUAC) will have the same agenda for their respective meetings: “discuss policy issues related to financial technology,” according to the filings in the Register. Additionally, some reports have indicated that — at least for the credit union council — the bureau-proposed “disclosure sandbox,” which would receive waivers from usual federal disclosure requirements and self-report material changes in consumer complaint patterns to the bureau, will also be discussed.
The separate notices for each are for “public meetings.”
Last week, the agency announced the new memberships of each of the advisory groups, which are all provided for under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), though only the consumer panel is mandatory. All advisory board and council members have been appointed to serve one-year terms.
Acting Director John “Mick” Mulvaney is also expected to address each group, according to reports.
The BCFP first alluded to a reduction in panel memberships in a June blog post; new charters posted online in August showed each would now have six members. However, when the membership lists were published Friday (also on the agency’s website), the bureau listed nine CAB members, seven CBAC members and seven CUAC members.
The new memberships for the councils were all reduced in size: previously, there were 25 members listed for CAB, 19 for CBAC and 17 for CUAC). The bureau, in the June blog post, said it was “right-sizing” the councils and “ramping up outreach to external groups” in order to “enhance its ability to hear from consumer, civil rights, and industry groups on a more regular basis.”
The agency also indicated that recordings and summaries of the meetings will be available after the meetings on the its website, consumerfinance.gov (but gave no indication of a date).