Director Kathy Kraninger says groups will advise bureau leadership on consumer financial issues and emerging market trends.
10/7/2019 9:00
Consumer Financial Protection Bureau Director Kathy Kraninger announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC), and Academic Research Council (ARC). These experts advise bureau leadership on a broad range of consumer financial issues and emerging market trends, according to a news release from the CFPB.
“The Bureau is able to protect consumers in the financial marketplace better when it receives input from a wide range of experts and stakeholders,” Kraninger said. “With the enhancements we made earlier this year to the structure of the advisory committee program, I am confident that these groups will be able to hit the ground running in their efforts to provide meaningful feedback on Bureau policy and regulations. I look forward to working with them.”
Earlier this year, Kraninger announced a series of enhancements to the bureau’s advisory committee charters, including: expanding the focus of the meetings to cover broad policy matters; increasing the frequency of in-person meetings from two times a year to three times a year for the CBAC and CUAC; elevating the ARC to a director-level advisory committee and increasing its meeting frequency; and increasing term lengths from one year to two years, among other enhancements,” according to a news release from the CFPB.
See the CFPB’s complete news release for a list of the new members.