The CFPB has published a notice in the Federal Register announcing that it is seeking applications for membership on its Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council.  For an applicant to be considered, the Bureau must receive his or her complete application packet by February 27, 2020.

Specifically, the Bureau is looking for:

  • Experts in consumer protection, community development, consumer finance, fair lending, and civil rights
  • Experts in consumer financial products or services, including consumer reporting, debt collections, and debt relief
  • Representatives of banks and credit unions that primarily serve underserved communities
  • Representatives of communities that have been significantly impacted by higher priced mortgage loans
  • Current employees of credit unions and community banks
  • Economic experts and academics with diverse points of view and who are recognized for their professional achievements and rigorous economic analysis

Last March, the Bureau announced a number of changes to its advisory group charters that became effective in FY 2020.  Such changes included extending the membership terms for all groups from one-year terms to staggered two-year terms.

In its notice, the Bureau states that it plans to announce the selection of new members in late summer of this year.