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By Thomas Ressler

CFPB Advisory Boards Set, Meetings Scheduled

September 21, 2012

The Consumer Financial Protection Bureau plans to hold the inaugural meeting of its new Consumer Advisory Board next week in St. Louis, MO.

The meeting is scheduled to take place Thursday, Sept. 27, 2012, at 12:15 p.m. at Randall Gallery, 999 North 13th Street, in St. Louis.

The bureau plans to have remarks from CFPB Director Richard Cordray, as well as the leadership of the new board, board members, and members of the public.

This event is open to the public but interested parties must RSVP.

To RSVP, send an email to cfpb.events@cfpb.gov with your full name and your organizational affiliation (if any).

Earlier this month, the CFPB appointed 25 consumer experts from outside the federal government to the new board, which is to provide advice to bureau leadership on a broad range of consumer financial issues and emerging market trends.

The newly appointed board members include experts in consumer protection, financial services, community development, fair lending, civil rights, and consumer financial products or services. They also represent depository institutions that primarily serve underserved communities, as well as communities that have been significantly affected by abusive mortgage lending.

The CFPB also recently named 13 individuals to serve on its new Community Bank Advisory Council, which plans to meet four times a year to provide information, analysis, and recommendations on the bureau’s regulation of consumer financial products and services.

Its first meeting has been scheduled for Oct. 10, 2012.

The agency also appointed 15 credit union representatives to its Credit Union Advisory Council, which has been tasked with providing direct feedback to the CFPB on its policy development, research, rulemaking and engagement functions.

The group is set to meet on Oct. 11.

Finally, to help the CFPB as it researches, analyzes and reports on developments in markets for consumer financial products and services, consumer awareness, and consumer behavior, the bureau established the Academic Research Council, made up of six scholars with “relevant methodological and subject matter experience,” the agency said.

The council is tasked with advising the regulators on research methodologies, data collection, and analytic strategies, and to provide feedback about research and strategic planning. Unlike the other advisory panels, this council was not mandated by the Dodd-Frank Act.

 


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