[Federal Register Volume 87, Number 125 (Thursday, June 30, 2022)]
[Notices]
[Pages 39067-39068]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13737]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Advisory Committees Solicitation of Applications for Membership

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice.

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SUMMARY: Pursuant to the authorities given to the Director of the 
Consumer Financial Protection Bureau (Bureau) under the Wall Street 
Reform and Consumer Protection Act (Dodd-Frank Act), Director Chopra 
invites the public to apply for membership for appointment to its 
Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), 
Credit Union Advisory Council (CUAC), and Academic Research Council 
(ARC), (collectively, advisory committees). Membership of the advisory 
committees includes representatives of consumers, diverse communities, 
the financial services industry, academics, and economists. 
Appointments to the committees are generally for two years. However, 
the Director may amend the respective committee charters from time to 
time during the charter terms, as the Director deems necessary to 
accomplish the purpose of the committees. The Bureau expects to 
announce the selection of new members in fall 2022.

DATES: The application will be available on July 5, 2022, here: https://acam.consumerfinance.gov/. Complete application packets received on or 
before 11:59 p.m. EST on July 24, 2022, will be given consideration for 
membership on the committees.

ADDRESSES: If an applicant requires a reasonable accommodation to 
complete the application, please contact Kimberley Medrano, Senior 
Advisor, at <a href="/cdn-cgi/l/email-protection#91d2d7c1d3ced3fef0e3f5f0fff5d2fee4fff2f8fdd0e1e1e2d1f2f7e1f3bff6fee7"><span class="__cf_email__" data-cfemail="9bd8ddcbd9c4d9f4fae9fffaf5ffd8f4eef5f8f2f7daebebe8dbf8fdebf9b5fcf4ed">[email protected]</span></a>.
    All applications for membership on the advisory committees should 
be sent:
    <bullet> Electronically: https://acam.consumerfinance.gov/.
    <bullet> Mail/Hand Delivery/Courier: Kimberley Medrano, Senior 
Advisor, Consumer Financial Protection Bureau, 1700 G Street NW, 
Washington, DC 20552. Submissions must be received on or before 5:00 
p.m. eastern standard time on July 24, 2022; submissions by mail must 
be postmarked on or before July 24, 2022. Please note that due to 
circumstances associated with the COVID-19 pandemic, the Bureau 
discourages the submission of comments by mail, hand delivery, or 
courier.

FOR FURTHER INFORMATION CONTACT: Kimberley Medrano, Senior Advisor, 
202-435-9623, <a href="/cdn-cgi/l/email-protection#eba8adbba9b4a9848a998f8a858fa8849e85888287aa9b9b98ab888d9b89c58c849d"><span class="__cf_email__" data-cfemail="074441574558456866756366696344687269646e6b46777774476461776529606871">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 

I. Background

    The Bureau is charged with regulating ``the offering and provision 
of consumer financial products or services under the Federal consumer 
financial laws,'' so as to ensure that ``all consumers have access to 
markets for consumer financial products and services and that markets 
for consumer financial products and services are fair, transparent, and 
competitive.'' Pursuant to section 1021(c) of the Wall Street Reform 
and Consumer Protection Act, Public Law 111-203, Dodd-Frank Act, the 
Bureau's primary functions are:
    1. Conducting financial education programs;
    2. Collecting, investigating, and responding to consumer 
complaints;
    3. Collecting, researching, monitoring, and publishing information 
relevant to the function of markets for consumer financial products and 
services to identify risks to consumers and the proper functioning of 
such markets;
    4. Supervising persons covered under the Dodd-Frank Act for 
compliance with Federal consumer financial law, and taking appropriate 
enforcement action to address violations of Federal consumer financial 
law;
    5. Issuing rules, orders, and guidance implementing Federal 
consumer financial law; and
    6. Performing such support activities as may be needed or useful to 
facilitate the other functions of the Bureau.
    As described in more detail below, section 1014 of the Dodd-Frank 
Act calls for the Director of the Bureau to establish a Consumer 
Advisory Board to advise and consult with the Bureau regarding its 
functions, and to provide information on emerging trends and practices 
in the consumer financial markets.
    Pursuant to the executive and administrative powers conferred on 
the Bureau by section 1012 of the Dodd-Frank Act, the Director of the 
Consumer Financial Protection Bureau established

[[Page 39068]]

the discretionary committees, CBAC, CUAC, and ARC, under agency 
authority in accordance with the provisions of the Federal Advisory 
Committee Act, as amended, 5 U.S.C., app. 2.

II. Qualifications

    Pursuant to section 1014(b) of the Dodd-Frank Act, in appointing 
members to the Consumer Advisory Board, ``the Director shall seek to 
assemble experts in consumer protection, financial services, community 
development, fair lending and civil rights, and consumer financial 
products or services and representatives of depository institutions 
that primarily serve underserved communities, and representatives of 
communities that have been significantly impacted by higher-priced 
mortgage loans, and seek representation of the interests of covered 
persons and consumers, without regard to party affiliation.'' The 
determinants of ``expertise'' shall depend, in part, on the 
constituency, interests, or industry sector the nominee seeks to 
represent, and where appropriate, shall include significant experience 
as a direct service provider to consumers.
    Pursuant to section 12 of the Community Bank Advisory Council 
Charter, in appointing members to the committee the Director shall seek 
to assemble members with diverse points of view, institution asset 
sizes, and geographical backgrounds. Only bank or thrift employees 
(CEOs, compliance officers, government relations officials, etc.) will 
be considered for membership. Membership is limited to employees of 
banks and thrifts with total assets of $10 billion or less that are not 
affiliates of depository institutions or community banks with total 
assets of more than $10 billion.
    Pursuant to section 12 of the Credit Union Advisory Council 
Charter, in appointing members to the committee the Director shall seek 
to assemble members with diverse points of view, institution asset 
sizes, and geographical backgrounds. Only credit union employees (CEOs, 
compliance officers, government relations officials, etc.) will be 
considered for membership. Membership is limited to employees of credit 
unions with total assets of $10 billion or less that are not affiliates 
of depository institutions or credit unions with total assets of more 
than $10 billion.
    Pursuant to section 12 of the Academic Research Council Charter, in 
appointing members to the committee the Director shall seek to assemble 
members who are economic experts and academics with diverse points of 
view; such as experienced economists with a strong research and 
publishing background, and a record of involvement in research and 
public policy, including public or academic service. Additionally, 
members should be prominent experts who are recognized for their 
professional achievements and rigorous economic analysis including 
those specializing in household finance, finance, financial education, 
labor economics, industrial organization, public economics, and law and 
economics; and experts from related social sciences related to the 
Bureau's mission. In particular, the Director will seek to identify 
academics with strong methodological and technical expertise in 
structural or reduced form econometrics; modeling of consumer decision-
making; survey and random controlled trial methods; benefit cost 
analysis, welfare economics and program evaluation; or marketing.
    The Bureau has a special interest in ensuring that the perspectives 
of women and men, all racial and ethnic groups, and individuals with 
disabilities are adequately represented on the advisory committees, and 
therefore, encourages applications from qualified candidates from these 
groups. The Bureau also has a special interest in establishing advisory 
committees that are represented by a diversity of viewpoints and 
constituencies, and therefore encourages applications from qualified 
candidates who:
    1. Represent the United States' geographic diversity; and
    2. Represent the interests of special populations identified in the 
Dodd-Frank Act, including service members, older Americans, students, 
and traditionally underserved consumers and communities.

III. Application Procedures

    Any interested person may apply for membership on the committees.
    A complete application (https://acam.consumerfinance.gov/) must 
include:
    1. A cover letter, which summarizes the applicant's expertise and 
provides reason(s) why he or she would like to join the committee;
    2. A complete r[eacute]sum[eacute] or curriculum vitae for the 
applicant;
    3. A recommendation letter from a third party describing the 
applicant's interests and qualifications to serve on the committee; and
    4. A complete questionnaire.
    To evaluate potential sources of conflicts of interest, the Bureau 
will ask potential candidates to provide information related to 
financial holdings and/or professional affiliations, and to allow the 
Bureau to perform a background check. The Bureau will not review 
applications and will not answer questions from internal or external 
parties regarding applications until the application period has closed.
    The Bureau does not accept applications from federally registered 
lobbyists, convicted felons or current elected officials for a position 
on the advisory committees.
    Only complete applications will be given consideration for 
membership on the advisory committees.

Jocelyn Sutton,
Deputy Chief of Staff, Consumer Financial Protection Bureau.
[FR Doc. 2022-13737 Filed 6-29-22; 8:45 am]
BILLING CODE 4810-AM-P


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