Whether we’re writing regulations, redesigning forms to be easier to understand, or following new trends in consumer finance, we count on stakeholders for advice and insight. In addition to our day-to-day work of gathering input, we also convene four independent groups for formal input on everything from consumer engagement and policy development, to research.
Consumer Advisory Board
Through a public process, the Bureau has invited external experts, industry representatives, consumers, community leaders and advocates to apply to be a member of this advisory group. As a result, the Consumer Advisory Board is a crowdsourced group of experts on consumer protection, consumer financial products or services, community development, fair lending, civil rights, underserved communities, and communities that have been significantly impacted by higher priced mortgage loans. They are a source of market intelligence and expertise for us, and also advise and consult us on our work. The board helps inform us about emerging practices or trends in the consumer finance industry, and shares analysis and recommendations. They are charged with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants.
Community Bank Advisory Council
The Community Bank Advisory Council advises us on regulating consumer financial products or services and specifically to share the unique perspectives of community banks. They share information, analysis, and recommendations to better inform our policy development, rulemaking, and engagement work.
Credit Union Advisory Council
The Credit Union Advisory Council advises us on regulating consumer financial products or services, specifically to share the unique perspectives of credit unions. They share information, analysis, and recommendations to better inform our policy development, rulemaking, and engagement work.
Academic Research Council
We research, analyze, and report on topics relating to our mission, including developments in markets for consumer financial products and services, consumer awareness, and consumer behavior. To help with this, we’ve established the Academic Research Council, made up of scholars with relevant methodological and subject matter experience. The council advises us on research methodologies, data collection, and analytic strategies and provides feedback about research and strategic planning.