CFPB Announces New Slate of Advisory Board Members; No ARM Representatives in this Group

Late last week the Consumer Financial Protection Bureau (CFPB) announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. The purpose of all three bodies is to provide advice to CFPB leadership on a broad range of consumer financial issues and emerging market trends.

The Dodd-Frank Wall Street Reform and Consumer Protection Act charges the CFPB with establishing a Consumer Advisory Board to advise and consult with the Bureau’s Director on a variety of consumer financial issues. The Bureau has also created advisory councils specifically related to community banks and credit unions. In January 2015, the CFPB issued a Federal Register Notice outlining the responsibilities of the advisory board and councils, as well as the duties of its members, and solicited applications for appointment.

New members to the Consumer Advisory Board will serve three-year terms and new members to the Community Bank and Credit Union Advisory Councils will serve two-year terms. The following are the new apppointments:

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