Fed Seeking Nominees for Consumer Advisory Council

WASHINGTON – The Federal Reserve has issued a request for candidates to fill open seats on its Consumer Advisory Council. E Federal Credit Union CEO Ken Bordelon is the only credit union representative currently seated on the board, though there can be more than one. Bordelon’s term is one of the ones set to expire at the end of 2004. There are no seats specifically reserved for credit unions. CUNA and NAFCU plan to submit names of possible candidates to represent credit unions. Eleven new members will be seated to begin serving three-year terms in January 2005. Recommendations must be received by August 27, 2004. Though electronic submissions are preferred, they can also be mailed to Terry Johnsen, Manager, Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The Fed’s CAC, established in 1976, meets in Washington, D.C. three times a year and advises the board on their responsibilities under consumer protection laws and other issues as requested.