CFPB seeks candidates for CU advisory council

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The CFPB is accepting applications for membership on several advisory committees, including its Credit Union Advisory Council.

The agency is seeking candidates who can provide insight and advice to help the advisory groups carry out the CFPB’s work. The advisory groups will provide the CFPB with information about emerging trends and practices in the consumer financial marketplace and allow the CFPB to hear directly from financial institutions.

The credit union council will advise the CFPB on consumer financial products or services regulation, from the perspective of credit unions. The council’s information, analysis and recommendations will help the agency determine policy development, rulemaking and engagement work regarding credit unions, according to the agency.

The council will specifically be tasked with advising the CFPB on federal consumer financial laws as they pertain to credit unions with total assets of $10 billion or less, according the council charter.

Only credit union employees will be considered for council membership, and candidates will be appointed by the agency’s director, Kathleen Kraninger. Membership, however, is limited to employees of credit unions with total assets of $10 billion or less and cannot be affiliates of depository institutions or credit unions with total assets more than $10 billion.

Applications are also being accepted for the CFPB’s Consumer Advisory Board, Academic Research Council and Community Bank Advisory Council. All applications are due Feb. 27.

More information about the Credit Union Advisory Council and the other advisory groups, how to apply and a link to the application is available on the CFPB’s website.

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