Fed opens applications for new round of appointments to Consumer Advisory Council

Consumer Advisory Council (CAC) membership applications are now being taken by the Federal Reserve, the agency said Monday.

The Fed’s CAC, which advises the agency on issues affecting consumers and communities, is composed of “a diverse group of experts and representatives of consumer and community development interests, including affordable housing, workforce development, small business, and asset and wealth building,” the agency said.

The group meets semiannually with members of the Federal Reserve Board of Governors, and provides input on various issues related to economic and financial services needs of consumers, the Fed said. In particular, the CAC focuses on concerns of low- and moderate-income consumers and communities, the agency added.

The new appointments chosen from applications are expected to be announced later this year. Past applicants are encouraged to re-apply, the agency said.

Federal Reserve Board accepting applications for its Community Advisory Council