WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau announced that it is seeking nominations for members of its Consumer Advisory Board – a panel of consumer experts who will advise the Bureau on emerging trends and practices in the financial services and products industry.
“The Consumer Advisory Board will be a key resource in our mission to protect the American consumer,” said CFPB Director Richard Cordray. “This Board will provide valuable input from a group of true experts with diverse backgrounds but a shared goal. I am eager to see it established.”
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, requires that a Consumer Advisory Board be established to advise and consult with the Bureau’s Director on a variety of consumer financial issues. The Board will consist of no fewer than 16 members and will meet at least twice annually.
Consumer Advisory Board nominees should have a background in consumer protection, financial services, fair lending and civil rights, consumer financial products or services, or community development. Federally registered lobbyists will not be considered.
The Federal Register Notice outlines the Board’s responsibilities and the duties of its members. It also provides details about how to submit nominations, which will be accepted until March 30, 2012.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.