Consumer Financial Protection Bureau Announces New Advisory Committee Members

Through a press release issued on September 22, 2021, CFPB Acting Director Dave Uejio announced the appointment of new members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). These committee members will advise Bureau 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 CAB to advise and consult with the Bureau’s Director on a variety of consumer financial issues. The Bureau also created three councils: the CBAC, CUAC, and ARC. The CBAC and CUAC advise and consult with the Bureau on consumer financial issues related to community banks and credit unions. The ARC advises the Bureau on its strategic research planning process and research agenda and provides feedback on research methodologies, data collection strategies, and methods of analysis, including methodologies and strategies for quantifying the costs and benefits of regulatory actions.

The committee members include experts in consumer protection, financial services, consumer lending, economic justice, and consumer financial products and services, as well as representatives of community banks and credit unions. Advisory committee membership reflects the expertise across the range of issues under the Bureau’s jurisdiction. Committee members serve two-year terms.