The Consumer Financial Protection Bureau’s advisory committees comprise a wide range of experts and stakeholders who provide input to the Director on a variety of consumer financial issues, as well as on the Bureau’s strategic research planning process and agenda. The advisory committees also allow us to hear directly from small financial institutions. Members of the advisory committees are typically:
- Experts in consumer protection, community development, consumer finance, fair lending, and civil rights
- Experts in consumer financial products or services, including consumer reporting, student lending, small dollar lending, credit cards, debt collection, small business lending and debt relief
- Experts in consumer finance education
- Representatives of banks and credit unions that serve underserved communities
- Representatives of communities that have been significantly impacted by higher priced mortgage loans
- Current employees of credit unions and community banks
- Academics with a strong research and publishing or practitioner background, and a record of involvement in research and public policy, including public or academic service
Beginning Monday, July 3, 2023, the Bureau is accepting applications for individuals who wish to serve as a member of the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, or Academic Research Council. Completed applications received between midnight ET on Monday, July 3, 2023, and 11:59 p.m. ET on Sunday, July 16, 2023, will be considered for membership on the committees.
Individuals who meet the qualifications for membership and wish to be considered for the CFPB’s advisory committees, may apply and submit required documents via the Advisory Committee Application Management system.
Consumer Advisory Board
Membership for the committee will be drawn from a pool of candidates recommended by the regional Federal Reserve Bank Presidents. Candidates must have experience in consumer protection, financial services, community development, fair lending and civil rights, or consumer financial products or services, or represent depository institutions that primarily serve underserved communities, communities that have been significantly impacted by higher-priced mortgage loans, or the interests of covered persons and consumers, without regard to party affiliation in accordance with section 1014(b) of the Consumer Financial Protection Act.
Community Bank Advisory Council
Per section 12 of the committee’s charter, 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. Only bank or thrift employees (CEOs, compliance officers, government relations officials, etc.) will be considered for membership.
Credit Union Advisory Council
Per section 12 of the committee’s charter, 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. Only credit union employees (CEOs, compliance officers, government relations officials, etc.) will be considered for membership.
Academic Research Council
Per section 12 of the committee’s charter, members are social science experts and academics with diverse points of view, such as experienced economists with a strong research and publishing or practitioner 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 empirical and theoretical analysis including those specializing in household finance, finance, financial education, labor economics, industrial organization, public economics, social work, psychology, and law and economics; and experts from related social sciences related to the CFPB’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 randomized controlled trial methods, cost-benefit analysis, welfare economics and program evaluation, or marketing.
The CFPB 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 CFPB also has a special interest in establishing a committee that is represented by a diversity of viewpoints and constituencies, and therefore encourages applications from qualified candidates who:
- Represent the United States’ geographic diversity; and
- Represent the interests of special populations identified in the Consumer Financial Protection Act, including servicemembers, older Americans, students, and traditionally underserved consumers and communities.
The CFPB does not accept applications from non-US citizens, federally registered lobbyists, convicted felons, or current elected officials for a position on the advisory committees. Selection of members shall not constitute an endorsement by the CFPB of the member’s organization or other affiliation.
Candidates must visit the Advisory Committee Application Management system to answer the questionnaire and submit the required documents by the deadline, in order to be considered for a position on the advisory committees.
A complete application package must include:
- The questionnaire
- A cover letter describing your primary qualifications
- A resume/CV with relevant positions and responsibilities
- A third-party letter of recommendation
All documents including the questionnaire, may be submitted online via the Advisory Committee Application Management system. Letters of recommendation may be addressed to Director Rohit Chopra. Questions regarding the Advisory Committee Application Management system, this solicitation or reasonable accommodations, may be directed to CFPB_BoardandCouncilApps@cfpb.gov.
If electronic submission is not feasible, submissions may be mailed to the Consumer Financial Protection Bureau, ATTN: Kimberley Medrano, 1700 G Street, NW, Washington, DC 20552. Submissions by mail must be postmarked on or before Sunday, July 16, 2023. Because paper mail in the Washington, DC area and at the Bureau is subject to delay, candidates are encouraged to submit applications electronically.
Candidates will be asked to participate in an interview, and provide information related to financial holdings and/or professional affiliations, in addition to passing a background check.
Please note, starting October 2023, ACAM will begin requiring users to go through a Multi-factor Authentication (MFA) process when logging into their accounts. Please refer to the for more information.