Fed taking applications now for Community Advisory Council membership beginning next January

Applications from persons wishing to serve on the Federal Reserve’s Consumer Advisory Council (CAC) for a term beginning Jan. 1, 2024, will be accepted by the Fed between this April 10 and June 9, the Fed said in an announcement published in the Federal Register.

The Fed said the CAC, with at least 15 members, advises the Fed Board on issues affecting consumers and communities. It includes experts and representatives of consumer and community development organizations and interests, including affordable housing, community and workforce development, small business, and asset and wealth building.

The panel meets at least semiannually with Fed Board members “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,” the Fed said.

The Fed said it will select members this fall to replace current members whose terms are due to expire Dec. 31. Newly appointed members will serve three-year terms that will begin on Jan. 1, 2024, it said. If a member vacates the CAC before the end of the three-year term, a replacement member will be appointed to fill the unexpired term.

The Fed said applicants from previous years may re-apply. More information about the application process is on the Fed’s website and in Friday’s Federal Register notice.

Fed CAC information

Federal Register notice