Consumer bureau invites applications to consumer, research, community bank, credit union advisory panels

Qualified applicants who wish to serve on any of the four advisory panels for the Consumer Financial Protection Bureau (CFPB) have from July 5 to July 24 to submit completed application packets, the bureau said in a blog post Thursday.

The Consumer Financial Protection Bureau (CFPB) said it is seeking applications for membership on the Consumer Advisory Board (CAB), Academic Research Council (ARC), Community Bank Advisory Council (CBAC), and Credit Union Advisory Council (CUAC).

Examples of the types of applicants the bureau would like to draw, the agency wrote, include:

  • Experts in consumer protection, community development, consumer finance, fair lending, and civil rights
  • Experts in consumer financial products or services, including consumer reporting, student lending, small dollar lending, credit cards, debt collection, and debt relief
  • Experts in consumer finance education
  • Representatives of banks and credit unions that serve underserved communities
  • Representatives of communities that have been significantly impacted by higher priced mortgage loans
  • Current employees of credit unions and community banks
  • Academics with a strong research and publishing or practitioner background, and a record of involvement in research and public policy, including public or academic service

The bureau said each application must include a cover letter summarizing the applicant’s expertise and reasons they wish to join; a complete résumé or curriculum vitae for the applicant; a recommendation letter from a third party describing the applicant’s interests and qualifications to serve on the committee; and a completed questionnaire.

A Federal Register notice also published Thursday states that memberships on these bodies are generally for two years. More on the application process, and the application itself, is linked from the blog post and the F.R. notice.

The bureau said it expects to announce new members in the fall.

Blog post: Accepting applications for CFPB advisory committees

Federal Register notice