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CFPB Seeks Applicants for CU Advisory Council and Consumer Advisory Board
Thursday, January 12, 2017 6:45 AM

The Consumer Financial Protection Bureau will be seeking applicants for the Credit Union Advisory Council (CUAC) and the Consumer Advisory Board (CAB) starting January 16, 2017.  The CAB has seven open seats and the CUAC has six open seats. 

To serve on the CUAC, one must be a current employee of a credit union with total assets of $10 billion or less. Credit union volunteers, advocates, and supporters may want to consider applying to serve on the CAB, which also discusses many relevant issues to credit unions and members.

The complete application packets must be submitted by March 1, 2017. A live link will be available when the application period begins.

The CFPB notes that it is inviting applications from individuals with the following expertise: 

  • experts in consumer protection, community development, consumer finance, fair lending, and civil rights; 
  • experts in consumer financial products or services; 
  • representatives of FIs that primarily serve underserved communities; and 
  • representatives of communities that have been significantly impacted by higher priced mortgage loans. 
  • Along with the statutory requirements above, the Unified Agenda is used as additional criteria for reviewing applicants with expertise in one or more of the following areas:
    • Payday and auto loans; overdraft and deposits; mortgage-origination; compliance; credit reporting, cards, payments; financial education; debt collection; mortgage – underserved populations, niche products; financial technologies, and consumer protection. 

Learn more here.