Fed seeking applications for Community Advisory Council; application period begins April 6

Applications to serve on the Federal Reserve Board’s Community Advisory Council (CAC) for a three-year term beginning next Jan. 1 will be accepted by the Fed Board between April 6 and June 5, the Fed said in a notice in Friday’s Federal Register.

The CAC advises the Fed Board on issues affecting consumers and communities. It has at least 15 members, and the Fed will choose new members this fall who will replace those whose terms end Dec. 31.

The CAC is composed of a diverse group of experts and representatives of consumer and community development organizations and interests, including from such fields as affordable housing, community and economic development, employment and labor, financial services and technology, small business, and asset and wealth building.

CAC members meet semiannually with the members of the Fed Board in Washington to provide a range of perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income consumers and communities.

This council complements two of the Fed Board’s other advisory councils – the Community Depository Institutions Advisory Council (CDIAC) and the Federal Advisory Council (FAC) – whose members represent depository institutions.

Solicitation of Applications for Membership on the Community Advisory Council (March 27 Federal Register notice)