Fed taking applications for Community Advisory Council membership

Applications to membership on the panel that advises the Federal Reserve Board on issues affecting consumers and communities are being accepted until May 31, the Fed said Monday.

The Consumer Advisory Council (CAC), it said, is made up of a diverse group of 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. It complements two of the Fed Board’s other advisory councils whose members represent depository institutions: the Federal Advisory Council (FAC) and the Community Depository Institutions Advisory Council (CDIAC).

The CAC, it said, is made up of a diverse group of 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. CAC members meet semiannually with 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,” it said.

The CAC has at least 15 members, and the Fed Board said it will select members this fall to replace current members whose terms will expire Dec. 31. The newly appointed members will serve three-year terms that will begin on Jan. 1, 2025. (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, it said.)

Federal Reserve Board accepting applications for its Community Advisory Council

Federal Register notice

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